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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.
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,
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Excise Rebate Policy : The scheme under which the Central Excise exemption or refund is provided is popularly known as Rebate of Central Excise. This scheme operates under Section
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Export of Spares: Warranty spares, whether indigenous or imported, of plant, equipment, machinery, automobiles or any other goods may be exported upto 7.5% of the FOB value of the
PORT PROCEDURES : Export cargoes can be brought into the port only after the ship has been all owned a berth and declared for loading. Some port authorities in India require the s
Data Processing Error: After the have been collected they are to be processed. This involves coding the responses, recording the codes, etc so that data collection can be transform
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