We exported in Sep 2020 and realised 90% of shopping boll value before shipment but 10% only in Dec 21. Dept asks proportionate refund of DBK plus interest. Could we avoid this?
3 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 31 December 2022
Drawback needs to be reversed only for non payment and not delayed payment.
Jayanta Bandyopadhyay
(310 Points)
Replied 31 December 2022
But Sec 75[1] and Rule 16A mention about time period, unless extended by RBI. Here, no extension of time frame. So we are in a dilemma
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 31 December 2022
Extension is always there for exports proceeds realization
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
