Inward remittance by exporter of service
This query is : Resolved
15 April 2013
Mr.X is engaged in export of service to various countries, He receives Foreign exchange what are the law he has to complied with?
Kindly Guide me on above issue.
-Priya
Kindly Guide me on above issue.
-Priya
31 May 2013
First he must have the EC code and if he is expoeting the articles or things as per the norms then he can claim the benefit as per section 80-O. He must file the returns to RBI for exports made and the money must be brought back in India within 6 months. In case of failure he has to procure extension of time from RBI and all sort of register like Bill of entry, bill of leading, L/C etc. etc. should be maintained.
31 May 2013
First he must have the EC code and if he is exporting the articles or things as per the norms then he can claim the benefit as per section 80-O. He must file the returns to RBI for exports made and the money must be brought back in India within 6 months. In case of failure he has to procure extension of time from RBI and all sort of register like Bill of entry, bill of leading, L/C etc. etc. should be maintained.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
