EXPORT BILLS PAYMENTS
This query is : Resolved
20 February 2024
Whether export bill can be realized through some other party ?
16 August 2025
Under the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India (RBI) regulations, the realization of export proceeds must be in accordance with the prescribed timelines and procedures. While the exporter is primarily responsible for ensuring the receipt of export payments, there are provisions that allow for the involvement of third parties in the realization process.
TaxTMI
Key Points:
Third-Party Involvement:
Exporters can authorize a third party, such as a bank or an agent, to assist in the realization of export proceeds. This authorization should be formalized through appropriate documentation and must comply with FEMA guidelines.
Documentation Requirements:
The exporter must maintain proper records of all transactions, including the authorization of third parties, to ensure transparency and compliance with regulatory requirements.
Timely Realization:
It is crucial that the export proceeds are realized within the prescribed timelines. Failure to do so may attract penalties or adverse actions from regulatory authorities.
Regularization of Delayed Realization:
If export proceeds are not realized within the stipulated time, exporters are required to regularize the delayed realization with the Authorized Dealer (AD) bank and the RBI. This process involves providing justifications for the delay and seeking necessary approvals.
TaxTMI
Key Points:
Third-Party Involvement:
Exporters can authorize a third party, such as a bank or an agent, to assist in the realization of export proceeds. This authorization should be formalized through appropriate documentation and must comply with FEMA guidelines.
Documentation Requirements:
The exporter must maintain proper records of all transactions, including the authorization of third parties, to ensure transparency and compliance with regulatory requirements.
Timely Realization:
It is crucial that the export proceeds are realized within the prescribed timelines. Failure to do so may attract penalties or adverse actions from regulatory authorities.
Regularization of Delayed Realization:
If export proceeds are not realized within the stipulated time, exporters are required to regularize the delayed realization with the Authorized Dealer (AD) bank and the RBI. This process involves providing justifications for the delay and seeking necessary approvals.
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