Clearing of goods through bill of entry
This query is : Resolved
Sonal Kulshreshtha
(Querist)
11 June 2010
At the time of export the shipper entered the value of goods wrongly as USD 30 looking only at packing list. But the actual value of goods was around USD 400. Is it possible to get clearance of the goods at importer's port on the basis of invoice and get bill of entry corrected?
What if the goods get cleared with wrong bill of entry? how the payment will be made to exporter as on the proof of import the value of goods is incorrect.
Please help me.
What if the goods get cleared with wrong bill of entry? how the payment will be made to exporter as on the proof of import the value of goods is incorrect.
Please help me.
14 June 2010
If it is better to revise bill of entry before clearnace, otherwise at the time of payment to exporter, you have to face problem when you submit bill of entry lesser than the payment is to be made.
If material is got cleared with wrong bill of entry, even if you have to write a letter to make a bill of entry of differtial amount. So that you have not to face problem at the time of payment to exporter.
Beacuse bank will demand bill of entry as proof of import value , which will be USD 30 agaisnt which you are asking to bank remittance of USD 400. Bank will not made payment agasint it.
If material is got cleared with wrong bill of entry, even if you have to write a letter to make a bill of entry of differtial amount. So that you have not to face problem at the time of payment to exporter.
Beacuse bank will demand bill of entry as proof of import value , which will be USD 30 agaisnt which you are asking to bank remittance of USD 400. Bank will not made payment agasint it.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
