Sir,
We have entered in to an agreement with an overseas customer to manufacture motors , wherein the agreement states that we should manufacture the product in India using their technology & trade mark & sell the products as per their forecasted business plan,
We will be paying excise duty on the said products if sold within India, please adivse
1.Whether this agreement will be covered under Franchise service agreement.
2.What will be the valuation amount ?
Thanks & Regards
Ganesh
1 Answer from Attorneys
Dear Ganesh,
You will be working as an manufacturing facility for the company, so what ever manuftured in India and sold in India wouold be liable to Excise Duty. Now the question is regarding the kind of agreement. For that one needs to understand the exact nature of understanding between you and the company like, Whats is mode of your consideration. It can be foreign collaboration agreement, Franchisee agreement, service agreement etc.
You may contact us for discussion in detail and more clarifications.
Contact: 09811617186
Regards
Jeevesh Mehta
Indirect Tax Consultant
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