Duty Drawback

This query is : Resolved

kartik_somu (Querist)
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03 June 2011 We are purchasing materials from SEZ and using the same for manufacture and export.

The purchase invoices are raised in USD, whereas the advance payment is made in INR.

i. is it permissible to make payment in INR and book in USD and knock the present value of INR with USD.

ii. will this affect our eligibility to claim duty drawback?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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03 June 2011 I . YES APPLICABLE .

II. NO, IN BRC COLUMN NO. 14, BANKER MENTIONED FOB value/FOB value actually realised in free Foreign Exchange/ Rupees.

FOR MORE INFORMATION

http://rbidocs.rbi.org.in/rdocs/Notification/PDFs/78370.pdf

http://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=5115

REGARDS,