Fema & rbi rules for exports realisation
This query is : Resolved
GIRISH SHARMA
(Querist)
02 September 2011
Dear Sir,
We had exported some goods to a client in USA. But due to some quality issue, the buyer will not pay for the goods i.e. the full invoice value will not be paid.
How to get the GR released for such Invoice for RBI & FEMA purpose ? Since the % of reduction in invoice value is 100%, is any approval or permission required from RBI or any other authority ?
Kindly advise.
Sincere Regards
G. Sharma
We had exported some goods to a client in USA. But due to some quality issue, the buyer will not pay for the goods i.e. the full invoice value will not be paid.
How to get the GR released for such Invoice for RBI & FEMA purpose ? Since the % of reduction in invoice value is 100%, is any approval or permission required from RBI or any other authority ?
Kindly advise.
Sincere Regards
G. Sharma
RAMESH KUMAR VERMA
(Expert)
02 September 2011
MR. SHARMA JI,
PLEASE NOTED THAT IF YOU REGISTERED IN ECGC THEN FILL UP APPROPRIATE FORM AND ECGC WILL ASSIST YOU IF BUYER NOT PROVIDE YOUR PAYMENT
PLEASE NOTED THAT IF YOU REGISTERED IN ECGC THEN FILL UP APPROPRIATE FORM AND ECGC WILL ASSIST YOU IF BUYER NOT PROVIDE YOUR PAYMENT
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