63 843
Assignments Done
99,2%
Successfully Done
In August 2018

Answer to Question #29988 in Other Management for PRABIR DAS

Question #29988
One of the BPO companies in India is expanding their activities in Philippines. Some of the capital equipments will be imported from US and will be directly shipped to Philippines. Consignment will not land in India. Whether AD can allow such transactions where consignment will not land in India?
Expert's answer
Capital goods, equipments may& be sent to India, if these will be sent with a Chartered Engineer Certificate stating that the goods have a residual life of more than 80% will be accepted.

Master Circular on Export of Goods and Services Export of Goods and Services from India is allowed in terms of clause (a) of sub-section (1) and sub-section (3) of Section 7 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account) Rules, 2000, as amended from time to time.

2. This& Master Circular& consolidates the existing instructions on the subject of "Export of Goods and Services from India" at one place. The list of underlying circulars/notifications consolidated in this Master Circular is furnished in Appendix.

3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 01, 2013 and be replaced by an updated Master Circular on the subject.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions