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Bank Charges deducted from Foreign Payment

Customs - Started By: - Ashok Chopra - Dated:- 7-9-2016 Last Replied Date:- 18-9-2016 - Respected Forum, I am manufacturer-exporter receiving short foreign payment of $ 25.00 on account of Bank Charges of Foreign Bank. and in another case i am discounting bill from foreign bank, they are sending me payment after deducting their charge and interest. It is not clear to me whether i should return back proportionate drawback to custom department on account of deduction made by foreign bank on accoun .....

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ply = Sir, in my view no amount of duty drawback received need to be paid back to the Govt. The reason is the consideration is received in full, it the bank charges which has been dedcuted from the consideration. Whether the bank first credits the full amount and then deducted bank charges or it pays you the net amount, the impact remains the same. This is my view. Thanks. - Reply By Ashok Chopra - The Reply = Sir, Query No. 1 - .My banker in India received short amount for # 25.00 on account of .....

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