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BILL OF ENTRY , Customs - Exim - SEZ |
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BILL OF ENTRY |
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Date of filing of BE with Bank from which payment is made in foreign currency including LC/DP etc.
WHAT LOSS WE WILL BEAR ON ABOVE NON COMPLIANCE
Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Do you want to say that you have borrowed foreign exchange for making payment towards import of goods but could not import the goods and therefore, could not submit BE with the bank? If it is so, are you able to prove the situation beyond control or reasons? or it is merely a con-compliance of filing of BE but you have imported material and no contravention relating to imported of goods and remittance of foreign exchange? You need to specify you query more clearly and in detail.
After the payment is made from the bank in foreign currency, one is required to file the Bill of Entry, claiming clearance under the Customs Act and after clearance of the goods, to forward the exchange control copy of B/E to the bank which completes liability of the party forwarding the foreign exchange, failing which necessary action can be initiated under FEMA.
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