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What is the rule when import remittance and import invoice have different amount

433 views 1 replies

Roshan

Manager

21 Points Posted on 08 September 2019

Hi all,

Anyone have any idea to deal with following condition during import.

1. While remitting advance to a party in Singapore they took USD 50 over item amount of USD 500 as bank commission charges.

2. While shipping they had given an invoice of USD 500 which get in Indian customs with material and according BOE made mentioning invoice amount.

Do it will be okay to process it with banker by submitting relevant invoice and BOE or there is any formalities need to be done to match the both amount?

What is the rule and regulation and how to deal with it??

Replies (1)

CS M Pota

Company Secreatary

3186 Points Posted on 09 September 2019

You mean that you have remitted USD 500 to Singapore's supplier out of that he deducted (Took) USD 50 as Bank commision for USD 500 and they sent Invoice for USD 500 for your import item and Bill of Entry is filed accoringly ie considering USD 500 as import value for the item of Import correct? if yes, this is ok, you may submit to your banker as a proff of import.