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Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Rank has granted permission for receiving payments for exports directly by exporters from their buyers in certain conditions.
Authorised dealers should receive remitlances from foreign countries (other than Nepal and Bhutan) or obtain reimburseme from their branches and correspondents in these countries against payments due for exports from India. The other payments receivables should also conform these methods of payment indicated below:
i) All countries other than member countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : Payment may be received in rupees fiom the account of a bank situated in any country in this group or payment may be received in any permitted currency.
ii) Remember countries in the Asian Clearing Union (except Nepal), Bangladesh, Myanmar Islamic, Republic of Iran, Pakistan and Sri Lanka : payment may be received for all eligible current transactions of debit to the ACU (Asian Clearing Union) dollar account in India of a bank of the participating country in which the other party to the transaction is resident, or by credit to the ACU dollar account of the authorised dealer maintained with the correspondent bank in the other participating country. In other cases payment may be received in any permitted currency.
REFUND OF CENTRAL EXCISE : Refund of central excise is an important fiscal incentive for export promotion. As you know, exports should not bear the burden of indirect taxes. Hence
State advantages and disadvantages of Quota sampling These quotas are assigned in a way that there remains resemblance between quotas and populations with respect to characteri
CUSTOMS CLEARANCE FORMALITIES : 'Under Section 40 of the Indian Customs Act, an overseas carrier cannot permit loading of goods without permission from the customs authorities. Th
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Form of Contract: There are no universally acceptable norms as to the form of export contracts. It need not be a formal document signed by both the parties and it need to be s
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Non Response Error: It is almost impossible to obtain data from each and every respondent covered in the same. There are always some respondents who refuse to give any information.
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