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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.
Explain why survey method is so popular Survey method is popular for various reasons. One of the major reasons is that data collection is a function of correctly designing and
INTRODUCTION : Export business has become very complex and highly risky. Insolvency rate is on the increase. Balance of payment difficulties have severely affected the capacity of
Write a brief note on report presentation. Answer Presentation has become an integral part of most marketing research projects. Most managers are finding it hard to read e
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Assess the current strategy: 1. Does the current strategy strengthen the feedback processes driving growth? Yes, the current strategy strengthens some of the feedback pro
Legal Framework : Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit supporting documents to enable the customs autho
OBJECTIVES After studying this Unit, you should be able to: 1. Explain stages involved in export cargo shipment 2. Discuss the policy for Central Excise Rebate on expor
OBJECTIVES OF EXPORT-IMPORT POLICY : Government control import of non-essential Items through an import policy at the same time. all-out efforts are made to promote exports. Thus,
Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit
Write a short note on DAGMAR
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