Can we Export imported goods to Bhutan & Nepal
Manjunatha
(B.Com)
(22 Points)
Replied 25 June 2015
From 1st March 2012 onward can export all the countries include Nepal except "Bhutan" please refer Central excise notifications -26/2011-CE(NT)
RAMESH KUMAR VERMA
(Exim Officer)
(5951 Points)
Replied 26 June 2015
as per fta Revised Agreement of Cooperation between Government of India and Nepal to control unauthorised trade.
Refer to Para 2.52(a) of foreign trade policy 2015-2020
However, export proceeds against specific exports may also be realized in rupees, provided it is through a freely convertible Vostro account of a non resident bank situated in any country other than a member country of Asian Clearing Union (ACU) or Nepal or Bhutan. Additionally, rupee payment through Vostro account must be against payment in free foreign currency by buyer in his non-resident bank account. Free foreign exchange remitted by buyer to his non-resident bank (after deducting bank service charges)on account of this transaction would be taken as export realization under export promotion schemes of FTP.
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