FIRC (Foreign Inward Remittance Certificate)

are you  exporter?????

Can I make the export bill in INR. Is there any problem in FIRC? plz guide for the same asap.

yes , can mentioned in indian rupees but in this condition at the time of making the BRC must mentioned foreign currency otherwise DGFT / CUSTOM you must byfracate it.

Regards,

And in case where I have to issued bills in the name at mumbai address and consignee is at out of india? then ?

BUT CONDITION IS THAT CONSIGNOR NAME MUST ADD IN THE IEC CODE AS U ASKING.

REGARDS,

Is FIRC applicable for the remittances from Nepal

Foreign exchange up to USD 25,000 for a business trip to any country other than Nepal and Bhutan. Release of foreign exchange exceeding USD 25,000 for a travel abroad (other than Nepal and Bhutan) for business purposes, irrespective of period of stay, requires prior permission from Reserve Bank. Visits in connection with attending of a conference, seminar, specialized training, study tour, apprentice training, etc., are treated as business visits.

Mr.Verma it means not applicable for Nepal, Thank you

Hi,

I am Chetan Pinrani. I am an exporter. 

One of my Overseas client wanted a sample of our product. As he does not have account with courier company he sent me courier charges in Advance. Sample is Free of cost.

As I received this amount in my Bank Account, our banker issued FIRC and debited charges for the same.

When I inquired for the same, they said that issuing of FIRC  is compulsory producedure and they need to do it when they receive funds from Overseas in other currency.

They informed me that if I do not wish to receive this certificate then they will not issue FIRC next time but that will be forever. In future if I need this certificate they will not provide this certificate.

Now I have to reply them that Do I need this certificate or not?

As my business is export, I always have proof of exporting like Shipping Bill, Bill of Lading, Packing List etc. Do I really need this certificate?

Kindly Guide,

Chetan Pinrani

i want to comes money outside india and get to convert money in indian crancey

what i requ. certificate.

Amar

Any person resident outside India (as per Section 2 of FEMA), may open and maintain NRO account with an Authorised Dealer or an Authorised bank for the purpose of putting through bonafide transactions denominated in Indian Rupees, not involving any violation of the provisions of FEMA, Rules and Regulations made thereunder.

(b) Opening of accounts by individuals / entities of Bangladesh / Pakistan nationality / ownership require prior approval of the Reserve Bank.

Any person resident outside India (as per Section 2 of FEMA), may open and maintain NRO account with an Authorised Dealer or an Authorised bank for the purpose of putting through bonafide transactions denominated in Indian Rupees, not involving any violation of the provisions of FEMA, Rules and Regulations made thereunder.

(b) Opening of accounts by individuals / entities of Bangladesh / Pakistan nationality / ownership require prior approval of the Reserve Bank.

I am working for a company which has regular reimbursement of expenses from their foreign company in dollar.The Amount is credited in their EEFC account

But FIRC was never issued and was never submitted tio RBI.

My Question is

1-For reimbursement of amount in dollar do we need FIRC

2-If the answer to aboyve is yes then when do we remit this to RBI.

Please answer

Hello,

Wanted to know about the Rules & Regulations applicable to a services oriented, proprietorship run company dealing with software & design services.

Company would have to share revenue with partners (overseas) upto 50%(from profits after deduction of all liabilities here) for the marketing & the  business they will bring into INDIA.

The Company would also have an EEFC account for convenience to send back foreign currency & to avoid loss in conversions &   rates. 

Was wanting to know FEMA rules with respect to how much is the company permitted to pay out as partner shares & required documentation.

(IF) possible,DOs & Don'ts with regards to this case.

Thank you.

Dear All,

what is the procedure to get duplicate copy of FIRC from the bank if the original one is misplaced by the Company?

Kindly give me sample letter for requesting to the bank for issuance of duplicate FIRC?

Its really urgent....

Please Please help me....