GR waiver closure, Customs - Exim - SEZ

[GV MAHADEVAN]

An old machine was exported to its manufacturer for repair and return after obtaining GR waiver from the bank. WDV of the machine was reported in the GR waiver and also in the export invoice.

Manufacturer after inspection of the machine comments due to age of the machine repair may not yield desired results and advises disposal of the machine than spending money on repair and return. Based on the same we have decided to dispose of the machine.

What is the procedure for closure of GR waiver obtained from Bank and also closure of documentation at customs!!

Please respond.

Thanks and regards

Mahadevan

Posts / Replies

[Kishan Barai]

According to me there is no specific closer of GR waiver found in RBI Master Circular https://rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=7354

It is better you approach RBI & your CHA respectively.