Avail 50% discount on All CS & CMA subjects for Dec batch . Use coupon code Dec14

×

Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > Custom >

What is GR Waiver under FEMA

    Post New Topic
Pages : 1





M.Com, MBA, FCMA, CS


[ Scorecard : 304]
Posted On 02 November 2009 at 15:39 Report Abuse

Hii

Please explain Waiver of GR, why it is issued and required??



Total thanks : 1 times

Online classes for CA CS CMA



CA Abhishek Gupta
Chartered Accountant


[ Scorecard : 44]
Posted On 23 April 2010 at 13:00

Dear Mr Khaneja,

  • GR stands for "Guaranteed Remittance" Form, which is prescribed by RBI in case of export of goods and services under cause (a) of sub-section (3) of section 7, subsection (20 of section 47 of FEMA, 1999.

Exemption from filing GR form by the exporters: In case your material was imported free of cost on re-export basis, you can avail of the exemption facility from filing GR. Refer to Regulation 4 of the Foreign Exchange Management (Export of goods and services) Regulations 2000 and Master circular no. 9/2007 issued by RBI.

  • In case of processing export documents through EDI system, Statutory Declaration Form (SDF) is to be filed instead of GR form, which is meant for processing documents manually.

  • In case you have not made any payment to your parent company towards the value of imported goods, you need not realise the export proceeds out of the re-export of the imported goods. GR form is a mandatory RBI form in which the exporter has to declare an undertaking to realise the export proceeds on the due date.

  • You may refer to part III of the Master circular no. 9/2007- cus dated 1-7-2008 dealing with operational guidelines for AD Banks for more details on GR/SDF, PP and Softex form and its waiver.

Regards,

Abhishek Gupta



Total thanks : 4 times



There are 1 Replies to this message






Related Files








Related Threads


Post your reply for What is GR Waiver under FEMA



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.




Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top