CA certificate for import remittance against purchases

This query is : Resolved

priti garg (Querist)
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21 December 2007 Please let me know, if CA certificate is required for foreign remittance made against raw material purchases. since no TDS is to be deducted, still is it compulsary to get the certificate from CA and give to the banker for making the remittance

CA. Vineet Grover

CA. Vineet Grover (Expert)
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21 December 2007 Hi Priti,

CA certificate for making foreign remittences abroad which is the requirement of every bank making foreign remitences. Further, in the CA certificate, declaration is made whether the said sum invokes TDS. Ceritficates are not only obtained for taxation issues but also for remittences.

Rgds/
Vineet

Rgds/
Vineet

priti garg

priti garg (Querist)
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21 December 2007 Hi Vineet,
I am in receipt of an e-mail from a private bank, whereby the requirement for obtaining the certificate has been withdrawn. Is it necessary for my client to still get the certificate.

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CA Manoj Kumar Jain

CA Manoj Kumar Jain (Expert)
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16 March 2008 Dear Priti,

I think this issue has closed, actually when Bank asked for Annexure B (CA certificate) at that time circular of RBI for the same was in force. And after some time it has been withdrawl.

Now only requirement of this certificate of misc outward remittance.