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International Trade

Author Topic:   Export of imported machinery (Grabs)
sathikumar
posted 01 May 2009 08:18 AM           
I have imported Grabs (new machinery)on 19/1/06 to Mumbai and paid full duty and using the grab. Now I want to send the machinery to a foreign country on rental basis for 3 years and after the period to reimport the machinery back to Mumbai. Pls.advise the following points. 1. Can I export sent the Grab to foreign country on rental basis for 3 years? 2. What is the formality after 3 years for bringing the machinery back? 3. Do I need to pay duty while bringing back after 3 years. 4. Is it possible to execute bond with or without Bank guarantee to Customs at the time of export(for the duty paid amt. on 1/06)to avoid further duty payment for bringing back the grab after 3 years. If so, upto what extend the Bank Guarantee will be? Pls. advise. sathikumar



      

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