We want to import prefabricated buildings and donate them to the victims of the recent landslide in Wayanad, Kerala. This will help in faster rehabilitation of the people who have lost their homes in the natural disaster. Can we import such items without a license? If so, what is the classification and what are the conditions to be met? What is the import duty on such items? Has the government given any duty concession for such imports primarily with the intention of donating them to the landslide victims?
Prefabricated buildings fall under tariff heading 9406. Modular steel building units fall under tariff line 94062000. All items under heading 9406 can be imported freely i.e. without import licence. There are no conditions to be fulfilled for imports of prefabricated buildings. For all items under heading 9406, the basic rate of customs duty (BCD) is 10 per cent, social welfare surcharge is 10 per cent of BCD and IGST rate is 18 per cent. Thus, the aggregate duty works out to 30.980 per cent. The government has not announced any duty concession for imports of items to be donated to the landslide victims in Wayanad, Kerala.
We are referring to the Bill of Lading Bill 2024 (Bill 111 of 2024, dated 6 August 2024) introduced in Parliament. What does the Bill seek to do that is different from what the current Bill of Lading Act 1856 does?
In essence, the idea is to bring in a new provision which will give powers to the central government to issue directions for carrying out the provisions of the proposed legislation. Otherwise, I see nothing new. The substantive aspects of the said Act of 1856 remain the same. From the Statement of Reasons and Objects, I can assume that the government wishes to replace the pre-independence statute by a new legislation with a view to bringing it into line with modern legislation and to facilitate simplification and ease of understanding, without changing the essence and spirit of the existing legislation of 1856.
In 2018, we applied for an EPCG (Export Promotion Capital Goods) authorisation, but we made the mistake of taking into account our company’s exports over the past three years to calculate the average annual exports, instead of only considering the exports of products that are the same or similar to the export product stated in the application. In addition, we also did not deduct the exports made in fulfilment of the export obligation during the three years prior to the date of the application. We realised our mistake when we found out that our exports are not sufficient to maintain the average annual exports mentioned in the EPCG authorisation and also fulfil the specific export obligation. Is there any provision to apply for a change in the average annual exports approved in the authorisation?
To correct an error, no specific provision is required. You can request an appropriate amendment by submitting your revised CA certificate, indicating the correct figures and explaining your case.
First published: August 19, 2024 | 10:33 PM IS
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