 "Surrender proportionate incentives to remit export claims: Expert")
We exported certain goods for which payment is fully realised. Now, the foreign buyer has raised some claims due to improper packing and late shipment. We want to remit these claims. What is the treatment of such export claims by RBI and under the GST laws?
As per Para C.22 of RBI Master Direction no. 16/2015-16 dated January 1, 2016 (as amended), on “Export of Goods and Services”, AD Category-I banks may remit export claims on application, provided the relative export proceeds have already been realised and repatriated to India, and the exporter is not on the caution list
As per Para C.22 of RBI Master Direction no. 16/2015-16 dated January 1, 2016 (as amended), on “Export of Goods and Services”, AD Category-I banks may remit export claims on application, provided the relative export proceeds have already been realised and repatriated to India, and the exporter is not on the caution list
