import of Furniture for hotel purpose

[Sudist Thakur]

Dear All,

A pvt Ltd company engaged in Hotel services, now company wants to imports furniture from abroad i.e Italy for its hotel . Management want to  get incentive from custom duty, company need to get registered under EPCG Scheme? or any other mode is also available?

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SUDIST KUMAR THAKUR

COMPANY SECRETARY

[Pravin Gupta]

Export Promotion Capital Goods Scheme (EPCG) 
EPCG is a special type of incentive given to the EPCG license holder. Capital goods imported under EPCG Scheme are subject to actual user condition and the same cannot be transferred /sold till the fulfillment of export obligation specified in the license. In order to ensure that the capital goods imported under EPCG Scheme, the license holder is required to produce certificate from the jurisdictional Central Excise Authority (CEA) or Chartered Engineer (CE) confirming installation of such capital goods in the declared premises. Under Export Promotion Capital Goods (EPCG) scheme, a license holder can import capital goods such as plant, machinery, equipment, components and spare parts of the machinery at concessional rate of customs duty of 5% and without CVD and special duty.

[Ganga Anil Kumar]

Dear Member,

Under EPCG Scheme company need to give assurance for exports, then only you will get custom duty exemption.

For more details click http://www.fieo.org/    

Thanking you,

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Regards
CS Ganga Anil Kumar

Company Secretary
Mobile No: +91 80082 99901

[Sudist Thakur]

I want to know whether Furniture will come under the definition of Capital Goods or not?

[Pravin Gupta]

 Furniture will come under the definition of Capital Goods. 

[Sudist Thakur]

Dear Praveen Ji,

please provide me relevant circular for the same...

Thanks in Advance

[Pravin Gupta]

Notification No. 41/2011 - Cus., Dated: May 23, 2011 & 943/04/2011-cx dtd. 29.04.2011 & circular no. 334/03/2011 dt 28.02.2011 combined reading of all these circulars would entitled admissibility of CENVAT credit on furniture or similar items which were hitherto nether covered under Capital goods definitions or Input Definitions.

[Sudist Thakur]

Thank u Sir...