Can we set-off of export receivables against import payable

Others 1882 views 3 replies

Can we set-off; of export receivables against import payable

My query relates to the RBI/2011-12/264 A.P. (DIR Series) Circular No. 47 dt. November 17, 2011, regarding “Set-off” of export receivables against import payables. I need to confirm in this regard that the company which has made import way back in the year 2007 can set off its payables by making export to the same exporter from whom import was made in today's date. i need to add in this that the company has still outstanding payments of that import.

I have posted this query a long time back but no reply... please reply to this important query... aSAP


Regards
 

Replies (3)

reply experts

reply please for sake of this caclub.. this is query of my co-worker.. and he is laughing on us (AS CA CLUB) saying more than 7 LAc Members but no reply to this.. not even one... reply.

Come on frnds please make him wrong and resolve this query ASAP.

 

:-) Praveen

Wish you all a Very Very Happy New Year.

Long Live CA CLUB

YES

 

U can set off the same . U would require a consent from the party for such set off and a ca certificate for the same  and form A-1 for the same.

Hope this suffice .

Akash Jain

Mob: 9867022485

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details