Consequences of Non Payment in Case of DP Bill

Consequences of Non-Payment in Case of D/P Bill

 

Consequences of Non Payment in Case of DP BillWhen importer fails to make the payment, on presentation by the correspondent's bank, exporter may have to pay additional charges by way of warehouse charges and insurance charges, at the port of destination as the goods will be lying in the foreign port. If the importer finally refuses to take delivery of goods, alternative buyer may have to be procured or distress sale may it become necessary. If nothing materializes, goods may have to be brought back to the country. This course of action results in heavy loss to the exporter.

 

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Valuation of GST Taxable supply


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