Duty Drawback
This query is : Resolved
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?
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?
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,
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,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
