03 August 2010
Dear all, pls help me For the preparation of BANK CERTIFICATE FOR EXPORT REALISATION FORM NO.1 have one coloum 1.Date of realisazation of export proceeds What date should be taken 1.Value date/Advice date/
2..FOB value means What? is it is taken from Shipping bill/Bank advice
3.Can i taken insurense amount from Shipping bill because it is matching
4.If rhe FOB means final realisation amount can i deduct foriegn bank charges from that?
Here is the problem is the compant availed Packing credit 5.Whether FOB means value at the time of purchase or Realistion? 6.If i take FOB from Shipping bill and submit the same to Bank for certificate If they cross match with the Realisation amount with the FOB in Shipping bill is there is any problem
2. F.O.B. – Full form is Free on Board. FOB means the stage at which the goods are placed on board the conveyance carrying the vessel. It can be said to include FAS+loading charges+export duty cess.
3.yes You can take it.
4. final realisation may be C I F , CNF, OR F O B. YOU HAVE TO CALCULATE YOUR OWN FOR CALCULATION YOU SHOULD AWARE ABOUT THE FOLLOWING
F.A.S – Full form is Free Alongside. It is the cost at which the export goods are delivered alongside the ship, ready for shipment. It includes ex factory+local freight+ local taxes.
F.O.B. – Full form is Free on Board. FOB means the stage at which the goods are placed on board the conveyance carrying the vessel. It can be said to include FAS+loading charges+export duty cess.
C.I.F – Full form is Cost Insurance Freight. It is the cost at which goods are delivered at the Indian port It include FOB +INSURANCE +FREIGHT.
03 August 2010
compant availed packing credit against the from bank for the they issue the statement on that date there is a conversion rate and the realisation time also one conversion rate
for FOB calculation 1.which conversion rate should i take 2.Can i take FOB on Shipping bill? 3.if i take the same any issue? because it doesn't match with the realisation date conversion rate is this accetable by bank?
04 August 2010
Dear sir, My company is exporting Leather. for that we have to file BANK CERTIFICATE FOR EXPORT REALISATION.But the compant not filed any thing to the customs dpt.in the last five year.so we got a shocause notice from the customs dpt.i am ew comer i don't know the customs an d things i prepared/collected all the things Exept FOB & date of realisation of export proceeds i have bank advice from that i collect the net realised amount for FOB calculation FOB=[(Net realisation * con rate at ealisation rate)-insurence-Frieght)is it right No. bank advice is noot available can i calulate FOB from any other file? pls Help
04 August 2010
yes you can found it from bill of entry, but in that case your F. O. B. will be diferent. It is better you may calculate from your accounts. you just try to find out wheather export value is on CIF or FOB , then apply the formulla asalready given to you.
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