on 01-20-2011 10:55 AM
hi gurus,
what exactly ARE-3 means,why we should create & for which requirements its to used?
HI,
It is used in case of Deemed exports. Deemed exportes mean when you sale goods to some firma that firm would export it. Your receive H form from the Buyer in this case and you need not pay excise and VAT/CST. WHen you do so you maintain the ARE3 regiseter for the quantity exported as deemed exports
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A sale of goods, in India, to a company that qualifies as an export-oriented unit or is located in one of the following:
Export processing zone
Electronic hardware technology park
Software technology park
Such companies export most of their goods; and so any goods that you sell them are liable to be used in the production of goods for export, hence the term "deemed export."
Under the terms of the deemed exports scheme, these companies can obtain licenses that exempt them from payment of basic excise duty on certain input materials
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In order to qualify for an exemption from excise duty, all deemed exports must be accompanied by the appropriate paperwork, including an ARE-3 document,
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In order to qualify for an exemption from excise duty, all deemed exports must be accompanied by the appropriate paperwork, including an ARE-3 document,
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