Export certificate(total fob value of export)

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This query is : Resolved

Atinder Singh (Querist)

09 July 2012 Dear experts,
I have Reconcile the realization of foreign debtors (invoice-wise) with the bank A/c in which such amount has been received.

My boss have to issue the Verification certification of total FOB value of exports based on the Bank realization Certificate.

Now my query is
1. what should be check while verifying it?
2. How to check the FOB Value?
3. We are informed that the bank normally deduct 10% amount of foreign debtors and released the remaining amount.
3. Do bank deduct the amount?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

10 July 2012 1)@ TIME OF VERIFYING COMPARE THE FC OF SHIPPING BILL AND INVOICE .

ALSO CHECK THE EXCHANGE RATE FOR THE MONTH DECLARED BY CBEC.

2) FOR CHECKING THE FOB VALUE FORMULA IS

INVOICE VALUE IF IS IN FOBTHEN*WITH CURRENT EXCHANGE RATE.

3&4
CHECK THE BANK REALISATION CERTIFICATE such as FIRC , LETTER OF CREDIT as well as EP COPY OF SHIPPING BILL .

regards,

Message likes : 1 times

Atinder Singh

Atinder Singh (Querist)

10 July 2012 thnks a lot sir.......

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