Fema query - goods exported to be brought back
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 February 2012
Goods have been exported with the intention of sale. Some remittance has been received.
Now, the parties agree to cancel the export sale and retain the payments received as penalty for cancellation.
Under FEMA:
1) What are the implications for these remittances received?
2) What are the regulations on bringing such inventory back to India?
Now, the parties agree to cancel the export sale and retain the payments received as penalty for cancellation.
Under FEMA:
1) What are the implications for these remittances received?
2) What are the regulations on bringing such inventory back to India?
28 February 2012
Now you submit the proof of cancellation the shipment letter submit acknowledgement of custom & copy it acknowledgement submit in RBI.
regards,
regards,
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