PAYMENT ON IMPORTS

This query is : Open

Deepak bisht (Querist)
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27 May 2021 Hello Team,

I am working with an MNC company based in India. They make a lot of imports from DK, US like countries in India. And they make payments to the parties from Local Foreign Bank Accounts. Now the issue is, the BOE's are pending from RBI's side and are unpaid. So what is the solution for this. How can we knock these off.

CA Raj Doshi

CA Raj Doshi (Expert)
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27 May 2021 Dear Deepak, You only have to write relevant letters to the AD bank about the import bill of entry number with the import amount and corresponding payment details along with ORM number,date and value. The bank would close such outstanding BOE. In case of any further clarifications, let me know.