FEMA Regulation.
This query is : Resolved
06 March 2010
We are a small scale enterprenuer. We export material to Kuwait.
One container FOB value is around USD 5000/-.
We receive payment in advance by TT and then the material is exported.
For this financial year we have exported five containers,one more in pipe line.
We have crossed USD 25,000/- FOB realization.
Do we have to inform RBI or any other institution.What documentation is required to be maintained?
We do not avail duty drawback.
One container FOB value is around USD 5000/-.
We receive payment in advance by TT and then the material is exported.
For this financial year we have exported five containers,one more in pipe line.
We have crossed USD 25,000/- FOB realization.
Do we have to inform RBI or any other institution.What documentation is required to be maintained?
We do not avail duty drawback.
20 June 2011
There is no provision for reporting to RBI, You can export goods of unlimited value but the only thing is payment should come in convertible foreign exchange through proper banking channel.
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