non realisation of export proceedings
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2011
"X" exports goods under bond without payment of duty,but the export proceeds could not be realised and export proceedings amount write off in the books.
Now question is if the excise duty is require to be paid by "X" or not. Is there is any authority in this matter.
Now question is if the excise duty is require to be paid by "X" or not. Is there is any authority in this matter.
04 May 2011
if u have exported the goods :- either u have to submitt POE or deposit the duty
04 May 2011
unrealised Export proceeds amount can be written off in books by a set procedure. Refer to RBI master circular on exports.
Bond is released on submission pf proof of export.
Release of bond and receipt of payment are two entirely different things and are not related to each other in any way. Non receipt of payment is under RBI purview.
Bond is released on submission pf proof of export.
Release of bond and receipt of payment are two entirely different things and are not related to each other in any way. Non receipt of payment is under RBI purview.
04 May 2011
FOR MORE INFO:-
https://www.rbi.org.in/SCRIPTs/NotificationUser.aspx?Id=5113&Mode=0
https://www.rbi.org.in/SCRIPTs/NotificationUser.aspx?Id=5113&Mode=0
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
