Can anyone explain me that Why Commission paid or payable is deducted from CIF value of export sales in Form No. 1 of Appendix 22A (Bank Certificate of Export and Realisation).
Hardik Sureja (Article) (59 Points)
08 July 2010Can anyone explain me that Why Commission paid or payable is deducted from CIF value of export sales in Form No. 1 of Appendix 22A (Bank Certificate of Export and Realisation).
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 09 July 2010
DEAR SIR,
IN THE ERA OF COMPETTION , IN EVERY STEP AVAILABLE THE MEDIATOR .
SUPPOSE, WHEN THE GOODS PURCHASED FROM USA THE MEDIATOR COMPANY (AGENCY) COMMISSION IS PROVIDED BY EXPORTER.
IT IS RULE.
FOR MORE INFORMATION ,PLEASEREAD RESERVE BANK OF INDIA CIRCULAR NO. 19 DTD. JUNE 02, 1999 A.D (MA SERIES) OR IF YOU ASK ME I CAN ALSO PROVIDE YOU IN THIS CLUB.
AND THIS FOREIGN AGENCY COMMISSION CAN NOT EXCEED 12.5%,
WHEN THE AMOUNT REALESED THE AGENCY COMMISSION DEDUCT AUTOMATICALY FROM THE USA.
AND AFTER DEDUCTION FOREIGN CURRENCY EXPORTER AVAIL THE INCENTIVE ANY DEPB, DBK, VKGUY, etc OTHER INCENTIVE AUTHORISATION , WHICH AMOUNT / CURRENCY SHOW AFTER REALESED IN COLUMN NO.14 OF BANK CERTIFICATE OF EXPORT AND REALISATION (APPENDIX-22A)
REGARDS
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 10 July 2010
WELCOME SIR, IN THE WELL RENOWNED"CA CLUB INDIA"
REGARDS
CAclubindia
