Query about re export
This query is : Resolved
01 June 2016
Dear Expert
please advise on below case:-
Suppose if we import goods of USD 10 Lac and paid USD 10 lac to Vendor.
But later due to some quality issue we rejected this material and send back ( Re Exported ) to vendor then Vendor has provided us replacement of material of USD 8 lac and rest USD 2 lac paid by vendor to us .
Now we have received only Usd 2 Lac against re export of USD 10 lac. since replacement provided by vendor of USD 8 Lac in aspect of Material .
Please advise me does RBI allow to receive in kind consideration and also confirm to me for which amount bank will issue BRC to us against it re export.
Regards
Deepak
.
please advise on below case:-
Suppose if we import goods of USD 10 Lac and paid USD 10 lac to Vendor.
But later due to some quality issue we rejected this material and send back ( Re Exported ) to vendor then Vendor has provided us replacement of material of USD 8 lac and rest USD 2 lac paid by vendor to us .
Now we have received only Usd 2 Lac against re export of USD 10 lac. since replacement provided by vendor of USD 8 Lac in aspect of Material .
Please advise me does RBI allow to receive in kind consideration and also confirm to me for which amount bank will issue BRC to us against it re export.
Regards
Deepak
.
12 August 2016
It is suggested that that you may consult the PRO of your nearest RBI as the subject matter relates to realization of foreign exchange.
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