Submission of identical export shipping bill to more than one bznk

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414 Points Posted on 24 November 2022

Can an exporter submit same export shipping bill to more than one AD / bank just to get some easy money for the time being. Is it permissible? 

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On 24 November 2022 at 20:24 Report
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This discussion explores whether an exporter can legally submit the identical export shipping bill to more than one bank to obtain immediate funds. The consensus is that this practice is not permissible and can lead to significant problems, including the rejection of refund applications. It is considered a form of financial impropriety, and guidance is sought on the relevant acts and sections that govern this issue.

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bombay
74 Points Posted on 25 November 2022

No - Fake shipping bills will create a lot of problems for sure.

your refund application can be rejected

 

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On 25 November 2022 at 00:35
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414 Points Posted on 25 November 2022

It is not a fake shipping bill. 2 sets of same export are submitted to 2 banks possibly to get liquid cash

 Later on, one is closed

 It is an hanitual practice

 

Please guide with act and section reg

 

Regards

J Bandyopadhyay 

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On 25 November 2022 at 07:12

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