Import machine without paying customs duty and export responsibility
- Antenna-Vivek Mehta - Customs duty can be paid without the burden of interest only when the raw material is imported without paying the customs duty and then the finished product is not exported. The Government of India has announced a Customs Bonded Ware House Scheme for the country's manufacturers. Machinery can be imported under this scheme without paying duty and without obligation to export. Similarly, if the finished product manufactured from imported raw materials is exported, it will not be forced to pay import duty. Even if the finished goods are destroyed in the warehouse in this way, the obligation to pay customs duty on the import of raw materials for it will not be burdened. Yes, new companies can take advantage of this scheme. But before taking advantage of this, he needs to get a clear understanding of the pros and cons of the scheme. Yes, the manufacturers who come forward to avail the benefits of this scheme will not be given benefits under other schemes i.e.