PAYMENT FROM FOREIGN CURRENCY ACCOUNT WHILE DEEMED EXPORT TO SEZ, Customs - Exim - SEZ

[satish padhiyar]

WE HAVE EXPORTED INTO SEZ UNDER ADVANCE AUTHORISATION. NOW DGFT RAISE A QUERY REGARDING PAYMENT RECEIVED FROM SEZ FROM FOREIGN CURRENCY ACCOUNT. SO PAYMENT FROM FOREIGN CURRENCY ACCOUNT IS COMPLUSURY OR NOT??

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[YAGAY andSUN]

FTP Para 4.21 Currency for Realization of Export Proceeds:-

(i) ..............................................

(ii) .............................................

(iii) Export to SEZ Units shall be taken into account for discharge of export obligation provided payment is realised from Foreign Currency Account of the SEZ unit.

(iv) Export to SEZ Developers / Co-developers can also be taken into account for discharge of export obligation even if payment is realized in Indian Rupees.

(v) Authorization holder needs to file Bill of Export for export to SEZ unit / developer / co-developer in accordance with the procedures given in SEZ Rules, 2006.