We have received advance against export and it is been more than one year of receipt. as per rbi i cannot refund this amount to the buyer as ome year has passed.
my question is am i allowed to make shipment after one year of receipt of advance?
and do i have to report this under audit report?
Menu
Advance against EXPORTS
Replies (4)
Quick Summary
You need approval of RBI to do shipment after one year or say after expiry
In my opinion yes you have to report in audit report
But where it is written rbi approval required for export after one year
Read fema rules and regulations
In those regulations only refund of payment is mentioned
Recent Topics :
- Short payment reccieved in export & GST implic
- Parag Gupta vs Purushottam Aggarwal- who is best f
- GST applicability on own-vehicle goods transportat
- FAST DS Scheme 26
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
Related Topics :
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
CCI
Pro
CAclubindia
