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Clarity regarding Realisation of Payment from SEZ Unit

Customs - Started By: - kamal chordia - Dated:- 19-2-2016 Last Replied Date:- 22-2-2016 - Dear Sir We are supplying goods to SEZ Unit under Advance Authorisation. AS per para 4.21 (iii) of FTP 2015-20 the payment from SEZ unit shall be taken in to account for discharge of export obligation provided payment is realised from Foreign Currency Account of the SEZ Unit. Is it means that payment should be realised in foreign currency OR in Indian Rupee but from SEZ unit foreign currency account. becaus .....

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Dated: February 10, 2016 - Reply By CS SANJAY MALHOTRA - The Reply = Dear Mr. Kamal,This is in addition to opinion shared by Sir Sh. Kasturi ji. Foreign Currency Account refers to an account held / maintained in currency other than the currency of India or Nepal or Bhutan.SEZ is treated as Foreign Land and Sh. Kasturi ji is right that Govt. can';t be taken for a ride by mentioning that earlier this provision was prevailing and why not continue........... - Reply By surya narayana - The Reply .....

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