Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

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

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Respected Forum, Export proceeds not received. No ECGC coverage. Foreign buyer gone into Liquidation (situation beyond the control of exporter) Drawback received returned 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 interest. Should we also deposit .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 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 department. 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. You have to d .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... o 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 and 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 Shipping .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Bill. - Export proceeds not received-DBK returned back-Self write off but permission not taken - Query Started By: - Ashok Chopra Dated:- 10-8-2016 Customs - Import - Export - Customs - SEZ - Got 2 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates