29 October 2013
Dear Sir, I am exporting cotton yarn to nepal through freely convetble currecy. Can I discharge the export Obligation when exporting to nepal. Plz tell me sir with notificaton number
29 October 2013
According to Para 9.2.1 of the HB-1, “discharge of export obligation against Authorisation shall be regulated in freely convertible currency”, and according to Para 9.2.4 of HB-1, “on Advance Authorisation(s), issued for exports to ACU countries, export obligation shall be denominated and discharged in ACU dollars.” So, you have to realise payment in foreign currency or ACU dollars.
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