The Scheme for Temporary Admissions under the Industries and Services Directorate provides facilities mentioned below on the establishment of economic benefits:
The Scheme Facilities
- The import of goods for re-export,
- The import of goods as inputs to other export oriented industries,
- Permit clearance of goods as an interim measure until necessary approvals are obtained to qualify under other schemes.
- Applicable Customs Duty and other levies are secured against Bank Guarantees/ Corporate Bonds/ Personal Guarantee,
- If the applicant is qualified for VAT deferment the security shall cover this amount as well and the same is released or replenished only on the Credit Vouchers issued by the IRD,
- Others, usually temporary VAT certificate holders, shall pay VAT at the time of clearance of imports. uses Individual Guarantees (IG) form for the application of facilities and GRN form for the transfers to final exporters,
- Inputs imported under the scheme should be re-exported within 6 months, and the guarantee will only be released on the proof of such export,
- Customs Duty and other levies are payable on any balance left.