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Deemed Exports are supplies that do not leave country, are paid in Indian Rupees, but are still deemed to have been exported, reason being they compete with the duty free imports. Except for DEPB/ FMS/FPS/SFIS and Sales Tax, deemed exports are eligible for almost all advantages that physical exports receive. The merits of Advance Authorization / DFIA / EPCG (Export Promotion Capital Goods) and Drawback are available on inputs, while Exemption from or refund of Excise Duty is obtainable on output. Supplies mentioned below are regarded as deemed exports and they get the following benefits:
Supplies to EOU, BTP, EHTP, and STP from DTA (Domestic Tariff Area) are recognized as deemed exports. The supplier’s certain advantage grows up to the EOUs etc. They can get the Advance Authorization for their imports for the purpose of supplies to EOUs. The drawbacks for their suppliers also can be acquired by them. It is the choice of supplier about whether to take EOU or benefits.
The deemed Exports benefit for their domestic procurement can be taken provided Power Projects where International Competitive Bidding (ICB) procedures have been followed at the IPP or at EPC stage. The gain could be in the form of Advance Authorization, or Duty drawback on the inputs. The purpose of deemed exports can be availed by the Contractor/Sub-contractors or other suppliers. The excise duty refunds exemption or refunds benefits can be availed by Mega Power Projects comprising the benefit mentioned above. The benefits can be derived by the suppliers or the Project owners themselves.
The ICB procedure followed projects which are financed as above are accountable to derive the benefit for deemed exports for their domestic procurement. The advantages could be in the form of Advance Authorization, or Duty Drawback on the Inputs and Excise Duty Refunds on the outputs. The benefits can be availed by the Contractor/Sub-contractors or other suppliers. The project owner or other supplier can procure the benefits. The project could be infrastructure project funded for ROAD, URBAN IMPROVEMENT etc.
OTHER PURPOSES LIKE OIL EXPLORATION BUSINESSES for which duty free imports are permitted. Supplies to Projects as above where ICB procedures have been followed can derive the benefit of Deemed Exports for their domestic procurement. The benefits could be in the form of Advance Authorization or Duty Drawback on the Inputs and Excise Duty Refunds on the outputs. The benefit can be availed by the Contractor/Sub-contractors or other suppliers. The benefit can be taken by the suppliers or the Project owners themselves.
The deemed export benefits can be received by domestic suppliers to the above authorization holders. Excise Duty Exemption for Advance Authorization holders and Excise Duty Refund for EPCG holders are the merits. In adjunct to that the indigenous supplier can import his own raw material duty free or can even get a drawback. The benefits can be taken by the suppliers or the Authorization holders.
We assist you in assessing the likelihood of the scheme for your purpose, absolute planning, costing at the stage of tendering etc. Then we provide assistance in functioning all the official procedure, documentation, application preparations, representation and synchronization with the relevant authorities till receipt of relevant Authorizations or Duty Drawbacks in the hands of the client.
We provide support to the suppliers to EOU or EOU themselves derive the benefit of deemed exports like Drawback, Advance License, Excise refund etc. The job comprises of complete work of carrying out all the formalities, documentation, application preparations, representation and synchronize with the relevant authorities to get the final benefit in the hands of the client.
Rajput Jain and associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
Rajput Jain and associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.
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Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
A US consultancy group
Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
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We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
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