Procedure for refund of export advance
This query is : Resolved
28 April 2013
Our company recd advance against export. Due to some problem export is not done & we have refunded more than 92% export advance. Now we want to refund balance amt to the party & period of one year has been lapsed. There in no transaction in our bank except Receipt & payment of export advance.
1. Is RBI approval is necessary in this case?
2. What is procedure for obtaining RBI approval?
Thanks in advance
1. Is RBI approval is necessary in this case?
2. What is procedure for obtaining RBI approval?
Thanks in advance
01 May 2013
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