Posts

Showing posts from May, 2021

MUCB- Manufacturing Under Customs Bond- Export made easy

Mr. Rajiv wants to commence a manufacturing unit for exporting tiles. In order to start, he needs capital goods and raw materials which can be outsourced from the local market or supplier, but since the raw material for rajiv is a finished product for the supplier so he will charge GST into it that makes it costlier. He knows our government is promoting local manufacturers but still he finds it difficult to procure raw material due to higher rates, he has to face competition in the market too. He look after foreign market and find out some suppliers who can provide the same raw materials in better rates. He might have find out the solution if government wouldn't have added higher  duties on imported goods after all government wants to promote local suppliers.  Keeping one thing in mind manufacturing sector is one of the worst impacted sectors due to pandemic. Promotion of foreigh investment, or adding incentives or new schemes to infuse fresh life may assist generating employment.