Menu
Foreign Inward Remmitance Certificate (FIRC)
| Originally posted by :rahul sharma | ||
| " |
Dear Rahul Sudhir Kochhar 9891743321 sudhir.kochhar @ gmail.com When an exporter receives advance he has to make shipment within 1 year as aresult he has to submit FIRC within 21 days from shipment date alomg with invoice , shiiping bill. SDf ,copy of bill of lading or Airway Bill, request letter, Packing List
1. What is the time limit of shipment of goods under Advance Payments
against Exports?
Ans: In terms of Regulation 16 of FEMA 23 dated May 3, 2000, where an exporter receives advance payment (with or without interest), from a buyer outside India, the exporter shall be under an obligation to ensure
that -
(i) the shipment of goods is made within one year from the date of receipt of advance payment
If the exporter is unable to make the shipment, partly or fully, within one year from the date of receipt of advance payment, no remittance towards refund of unutilised portion of advance payment or towards payment of interest, shall be made after the expiry of the said period of one year, without the prior approval of the ReserveBank.
(ii) Where the export agreement provides for shipment of goods extending beyond the period of one year from the date of receipt of advance payment, the exporter shall require the prior approval of the Reserve Bank.
Hello friends!!!!! |
" |
which documents we will have to submit to bank to realise FIRC from bank against export ?
| Originally posted by :Guest | ||
| " | which documents we will have to submit to bank to realise FIRC from bank against export ? | " |
which documents an exporter has to submit to get FIRC from Bank?
And what is the procedure?
Recent Topics :
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
Related Topics :
CAclubindia
