Customs issue- change in invoice value after despatch by sea
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 January 2013
Dear Experts,
I would like to know the legal provisions for below issue. thanks in advance to all experts.
The Question is can the Invoice date be after the shipped on board date? Can the Invoice number change? legally correct?
imported some consignments on sea, shipped on 7th Jan and ETA is 25th, now the invoice value got changed and my supplier has done the correction, but they have system constraint and the new invoice will only have the current date and new invoice number, means both invoice number and date got changed.
a)Can this be acceptable to customs Dept, the invoice number is changed and the date is after shipping from origin?
b) my bank will receive the first inoive, later i will give them diffrent invoice , is it ok with BANK
I would like to know the legal provisions for below issue. thanks in advance to all experts.
The Question is can the Invoice date be after the shipped on board date? Can the Invoice number change? legally correct?
imported some consignments on sea, shipped on 7th Jan and ETA is 25th, now the invoice value got changed and my supplier has done the correction, but they have system constraint and the new invoice will only have the current date and new invoice number, means both invoice number and date got changed.
a)Can this be acceptable to customs Dept, the invoice number is changed and the date is after shipping from origin?
b) my bank will receive the first inoive, later i will give them diffrent invoice , is it ok with BANK
23 January 2013
kindly noted RBI approval is not required if, after the goods have been shipped, they are to
be transferred to a new buyer other than the original buyer in the event of default by the original buyer, provided the reduction in value, involved does not exceed 25% of the invoice value and the realization of export proceeds is not delayed beyond the period of 12 months from the date of export.
Regards,
be transferred to a new buyer other than the original buyer in the event of default by the original buyer, provided the reduction in value, involved does not exceed 25% of the invoice value and the realization of export proceeds is not delayed beyond the period of 12 months from the date of export.
Regards,
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 ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
