Duty Drawback
This query is : Resolved
03 June 2011
We are purchasing materials from SEZ and using the same for manufacture and export.
The purchase invoices are raised in USD, whereas the advance payment is made in INR.
i. is it permissible to make payment in INR and book in USD and knock the present value of INR with USD.
ii. will this affect our eligibility to claim duty drawback?
The purchase invoices are raised in USD, whereas the advance payment is made in INR.
i. is it permissible to make payment in INR and book in USD and knock the present value of INR with USD.
ii. will this affect our eligibility to claim duty drawback?
03 June 2011
I . YES APPLICABLE .
II. NO, IN BRC COLUMN NO. 14, BANKER MENTIONED FOB value/FOB value actually realised in free Foreign Exchange/ Rupees.
FOR MORE INFORMATION
https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/78370.pdf
https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=5115
REGARDS,
II. NO, IN BRC COLUMN NO. 14, BANKER MENTIONED FOB value/FOB value actually realised in free Foreign Exchange/ Rupees.
FOR MORE INFORMATION
https://rbidocs.rbi.org.in/rdocs/Notification/PDFs/78370.pdf
https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=5115
REGARDS,
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