Export to iran
Govind Agarwal (1 Points)
29 December 2016Govind Agarwal (1 Points)
29 December 2016
Ajit Hegde
(CA - Final)
(1367 Points)
Replied 17 February 2017
pdgoenka
(Dy Mgr)
(123 Points)
Replied 22 February 2017
Iran is on OFAC list ( office of foreign asset controla ) of USA. Any entity participating in financial transactions with OFAC listed countries will get their assets in US frozen.
You can ask your buyer to remit funds through ACU dollar and open a/c with Name : Indian Bank....they are presently settling all payments to Iran on behalf of all OMCs in India who had been importing crude from Iran.
Kotak mahindra may not issue eBRC which may put your IEC on caution list in EDPMS of RBI.
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)