Export proceeds not received-DBK returned back-Self write off but permission not taken

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..... Export proceeds not received-DBK returned back-Self write off but permission not taken
Query (Issue) Started By: - Ashok Chopra Dated:- 10-8-2016 Last Reply Date:- 24-9-2016 Customs - Exim - SEZ

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..... r>Got 2 Replies
Customs
Respected Forum, Export proceeds not received. No ECGC coverage. Foreign buyer gone into Liquidation (situation beyond the control of exporter) Drawback received return .....

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..... ed to department voluntarily, but without interest. Export proceeds self written off in books but permission of self write-off not applied with A.D. Bank. My queries: 1. What to do now about intere .....

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..... st. Should we also deposit voluntarily, if do not deposit, what serious action by department. 2. How to take permission of self write-off now? if do not take permission, what serious action by depar .....

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..... tment. Please guide me accordingly. Reply By KASTURI SETHI: The Reply: 1. Interest has to be paid from the date of clearance of goods from the factory for export . 2. No permission required. Y .....

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..... ou have to do so in books of accounts and reflect the same in Balance Sheet (including Profit and Loss Account. Reply By YAGAY AND SUN: The Reply: Please check Master Direction on export of goods an .....

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..... d services which is issued by RBI on 1st January 2016. You will find your answer on Writing off . You would have to pay the interest from the date of Let Export Order dated which is mentioned on Ship .....

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..... ping Bill.
Discussion Forum - Knowledge Sharing .....

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