We are importing lot of goods and for making there payment from recently our bank is asking for Form 15 CA , 15 CB, So is it compulsary to give these form each time when i have to make foreign remittance & if not applicable than how do i explain to my bank.
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15 ca / 15 cb
Replies (9)
Absolutely its necessary to fill form 15 CA/CB for foreign remittance.
U need to get it certified by a chartered accountant.
Hope this helps ;)
Dear Sir
Form Form 15CA not require is remittance is not chargible to Tax in India.
I may be wrong but remittance for goods imported is not there in the specified list. Some clarity would be nice mr jay. Thanks. Sorry for the trouble
I Agree with you Mr. Vivek
In the specified list the remittance for imported goods are not included but in rull 37BB the word used as “Information to be furnished for payments, chargeable to tax, to a non-resident not being a company, or to a foreign company”
“(To be filled up if the remittance is chargeable to tax and does not exceed fifty thousand rupees and the aggregate of such remittances made during the financial year does not exceed two lakh fifty thousand rupees)”
There is still conflict with the specified list to bankers with defination used for 15CA for the perpose of remittance.
But it always advisable to obtain a certificate "15CA and 15CB" as the case may be to avoid any contegency in future..
Thanks for the reply Mr. Jay.
Yes its a slightly grey area and bankers take the safer route by asking client to submit certificate.
As i have stated and you have also stated it is advisable to obtain certification to avoid any contingency in future especially if amounts are decently large over the year.
Absolutely Mr. Vivek.
I hope Mr kishore is clear on this now. Thanks Mr Jay.
Dear Jay in case of import of goods no need to provide of 15ca cb but in case if import of services then u need to give it.
Relating to hardware and goods,If you have bill of entry, then no need for 15Cb, but if u don't have means then u have to get 15Cb from CA... and in case of services and all, 15CB must be obtained and the same should be uploaded with department in Form 15CA...
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