Normally goods we purchase in domestic market are sold on MRP basis.A doubt may arise whether we have to delare export price same as MRP price.It is not so.The Export price is the price at which your foreign buyer has agreed to buy from you. Where as MRP is for buying goods in Indian market.Both are different.
As per recent ruling of Honourable Supreme Court if there is difference between Export price and domestic price of goods,then, it does not mean that the value of exported goods is mis-declared.[CC v Vishal Exports Overseas Ltd,2007(209)E.L.T.331 (SC)]
2 comments:
Dear Sir,
I must commend you on the depth of your knowledge in the realm of customes!!
I need to send a parcel to France containing 25 DVD's worth Rs.10000
I will send it via some reputed courier company.
Please let me know if I need to attach any declaration (CN21 etc)
Also should I put a copy of the declaration inside the parcel also?
The courier company is saying that I should give 6 copies of a simple letter on my letterhead that it is a 'gift' with no commercial value.
Please help..
Dear Deepti,
Thank you for valuable feedback.Pl provide link of this blog to other user groups or forums ,so,we can share our learning with more people.
Regarding your question,If you are sending these DVD as free gifts to your freinds and relative in the France,then,it is okay.You can send them as gift.
BUT,if you are sending them as sale item to your Customer,then you should not declared them as Gifts.You should issue commercial invioce and keep same into your parcel.
No export duty is charged on DVD.They are not banned to export if they donot contain any prohibited contents inside.NO GR Form to be submitted to the RBI/Bank as price of these DVD is well below the permissible limit of Rs 25,000/-.
Pl note that if you export as gift then receive foreign remittance then you will have tough time to explain Income tax department they source of money.In such case it become illegal and action under Money laundering,FEMA,Income tax and any other law may be attracted against you.At least you will be harassed and wasting time to explain.
PL write to me if you any further question.
regards
ravindra kumar
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