Hi
Can any body please help me with an query on FC-GPR filing.
Clause No 7
K R Ramesh (Service) (201 Points)
13 July 2009Hi
Can any body please help me with an query on FC-GPR filing.
Clause No 7
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 13 July 2009
Dear Mr. Ramesh
K R Ramesh
(Service)
(201 Points)
Replied 13 July 2009
Dear Mr. Ajay Mishra
Thanks for your reply, here we have received the advance not as an Investment or for issue of shares. It is an advance against the services which will be adjusted against subsequent Invoices. It is not a loan also which would be repaid back, it just an advance which will adjusted susequently.
if you see the FORM FC-GPR clause 9 (see below)
9. Other Investment
|
9.1 Trade Credit
|
9.1.1 Short Term
|
9.1.2 Long Term
|
9.2 Loans
|
9.3 Others
|
9.3.1 Short Term
|
9.3.2 Long Term
|
It says investment, Trade Credit, Loans & Others.
In our case it is not falling under Trade Credit, Loans but do we need to show this advance under OTHERS but this is not Investment also.
This is the confusion & the query.
Please advise
Thanks & Regards
Ramesh
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 13 July 2009
Dear Mr. Ramesh
In Point No. 9 which includs "others" lelating to investment not specified in above mentioned category.
If u simply read form FC-GPR, it is a kind of reporting to RBI for amount of consideration received from a persion resident outside India by Indian company after issue of shares not for advance received against export.
Regards
K R Ramesh
(Service)
(201 Points)
Replied 13 July 2009
Dear Mr. Ajay Mishra
Many Many thanks for the clarfication. It is much appreciated.
Regards
Ramesh
Veeraraghava Narasimhan
(Secretarial/Compliance Officer)
(257 Points)
Replied 03 August 2011
Is there any penalty for filing FORM FCGPR late. Is any other processiding has to be made?
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