import duty

V Swaminath (Querist) 03 August 2011 This query is : Resolved
Whether Peformance(Bonus) payment on Imported Bricks will attract further IMport duty or the same is exempt from the same.

If a indian company imports Refractories from a foreing company and as per the purchase order clause wants to pay Performance(Bonus). Whether payment of Such performance over and above the invoice value will attract additional import duty.
Whether such payments should be routed Thru RBI

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R.Ramachandran (Expert) 03 August 2011
Your facts are not clear. Who will be paying the performance bonus to whom?

Raj Kumar Makkad (Expert) 03 August 2011
No any payment over the invoice price can be routed out of India. You know 'black money' is routed from India using the same method by various 'business houses'.

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