EPCG scheme allows exemption of duty on import of Capital Good/(s) required for manufacturing (Goods which are to be exported). Capital Goods can include equipment’s, spare parts, tools, jigs, fixtures, dies and moulds. The applicant (Exporter) may apply for an EPCG license along with a CE certificate on the proforma certifying the end use of capital goods sought for import for its use at the pre-production, production or post-production stage for the product undertaken for export obligation.

An advance license is granted for the import of inputs without payment of basic customs duty. Such licenses are issued in accordance with the policy and procedure in force on the date of issue of the license and is subject to the fulfilment of a time-bound export obligation, and value addition as maybe specified. Advance licenses maybe either value based or quantity based. Chartered Engineer has to validate and certify the import of inputs without payment of basic customs duty.

• Under Advance Authorization scheme duty free import of input raw materials required for export production is permitted. Raw material quantity can be procured as per ratio of Input-Output Norms w.r.t to quantity of finished Capital Good(s) to be manufactured for being exported.
• Due to constant innovation/ product development, Standard Input-Output norms of such goods may not be present in published Handbook, but Exporters are still eligible for the duty-free import of inputs used in the manufacture of such goods.
• Certification for fixation of SION Norms for such new products in DGFT and certifying raw material requirements and wastage for manufacturing such products is provided.

• Duty Drawback is claim of refund of excise and custom duties charged on imported material and /or excisable material used in the manufacture of goods to be exported.
• Certification of consumption of various materials shown in DBK-1 statement after careful examination of the requirement and the consumption details of the imported items used for production/ manufacture of export product. Wastages, being reasonable and adhering to the industry norms, as claimed are also to be certified.

CE Certification of Declaration in respect of all the export items covered under Engineering sector as per Col. no. 6 (iv) of ANF - 3E stating the FOB value of exports of engineering sector (excluding iron & steel, non-ferrous metals in primary or intermediate forms, automobiles or two wheelers, nuclear reactors & parts and ships/ boats and floating structures).

Availing subsidy under CEFPPC (Creation/ Expansion of Food Processing & Preservation Capacities), PMKSY (Pradhan Mantri Kisan Sampada Yojana) & Other Schemes

Certification of Cost estimates of plant & machinery to be installed in the plant for availing subsidy from MFPI (Ministry of Food Processing Industries), GOI.

Market Value is the estimated amount for which an asset should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where each party had acted knowledgeably, prudently and without compulsion.

It is the value arrived at when the seller may or may not have sufficient time to find a purchaser and being forced to sell the assets on as-is where-is basis.

Assets are revalued by taking into account any accumulating losses in terms of depreciation and impairment. These are carried out by an enterprise at regular intervals

Valuation of assets is required to fix-up the Sum-insured for Fire, Engineering and Miscellaneous class of Insurance policies.

Asset disposal is the removal of a long-term asset from the company’s accounting records. It is an important concept because capital assets are essential to successful business operations. Moreover, proper accounting of the disposal of an asset is critical to maintaining updated and clean accounting records.

I. The asset disposal may be a result of several events:

• An asset is fully depreciated and must be disposed of.
• An asset is sold because it is no longer useful or needed.
• An asset must be removed from the books due to unforeseen circumstances.

II. For the Purpose of Loan/ Mortgage

III. Valuation of Assets of a company as per Companies Act 2013

EPCG scheme allows exemption of duty on import of Capital Good/(s) required for manufacturing (Goods which are to be exported). Capital Goods can include equipment’s, spare parts, tools, jigs, fixtures, dies and moulds. The applicant (Exporter) may apply for an EPCG license along with a CE certificate on the proforma certifying the end use of capital goods sought for import for its use at the pre-production, production or post-production stage for the product undertaken for export obligation.

An advance license is granted for the import of inputs without payment of basic customs duty. Such licenses are issued in accordance with the policy and procedure in force on the date of issue of the license and is subject to the fulfilment of a time-bound export obligation, and value addition as maybe specified. Advance licenses maybe either value based or quantity based. Chartered Engineer has to validate and certify the import of inputs without payment of basic customs duty.

• Under Advance Authorization scheme duty free import of input raw materials required for export production is permitted. Raw material quantity can be procured as per ratio of Input-Output Norms w.r.t to quantity of finished Capital Good(s) to be manufactured for being exported.
• Due to constant innovation/ product development, Standard Input-Output norms of such goods may not be present in published Handbook, but Exporters are still eligible for the duty-free import of inputs used in the manufacture of such goods.
• Certification for fixation of SION Norms for such new products in DGFT and certifying raw material requirements and wastage for manufacturing such products is provided.

• Duty Drawback is claim of refund of excise and custom duties charged on imported material and /or excisable material used in the manufacture of goods to be exported.
• Certification of consumption of various materials shown in DBK-1 statement after careful examination of the requirement and the consumption details of the imported items used for production/ manufacture of export product. Wastages, being reasonable and adhering to the industry norms, as claimed are also to be certified.

CE Certification of Declaration in respect of all the export items covered under Engineering sector as per Col. no. 6 (iv) of ANF - 3E stating the FOB value of exports of engineering sector (excluding iron & steel, non-ferrous metals in primary or intermediate forms, automobiles or two wheelers, nuclear reactors & parts and ships/ boats and floating structures).

Availing subsidy under CEFPPC (Creation/ Expansion of Food Processing & Preservation Capacities), PMKSY (Pradhan Mantri Kisan Sampada Yojana) & Other Schemes

Certification of Cost estimates of plant & machinery to be installed in the plant for availing subsidy from MFPI (Ministry of Food Processing Industries), GOI.

Market Value is the estimated amount for which an asset should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where each party had acted knowledgeably, prudently and without compulsion.

It is the value arrived at when the seller may or may not have sufficient time to find a purchaser and being forced to sell the assets on as-is where-is basis.

Assets are revalued by taking into account any accumulating losses in terms of depreciation and impairment. These are carried out by an enterprise at regular intervals

Valuation of assets is required to fix-up the Sum-insured for Fire, Engineering and Miscellaneous class of Insurance policies.

Asset disposal is the removal of a long-term asset from the company’s accounting records. It is an important concept because capital assets are essential to successful business operations. Moreover, proper accounting of the disposal of an asset is critical to maintaining updated and clean accounting records.

I. The asset disposal may be a result of several events:

• An asset is fully depreciated and must be disposed of.
• An asset is sold because it is no longer useful or needed.
• An asset must be removed from the books due to unforeseen circumstances.

II. For the Purpose of Loan/ Mortgage

III. Valuation of Assets of a company as per Companies Act 2013