Advance payment for export, RBI guidelines Posted on 10 April 2023 Category : For Beginners Indian Union Budget 2016-17, Budget speech pdf . Click here to read Exporter’s obligation to RBI on Advance Payment against Exports. Where an exporter receives advance payment (with or without interest), from a buyer outside India, the exporter shall be under an obligation to ensure that the shipment of goods is made within one year from the date of receipt of advance payment; the rate of interest, if any, payable on the advance payment does not exceed London Inter-Bank Offered Rate (LIBOR) + 100 basis points; and the documents covering the shipment are routed through the bank through whom the advance payment is received. Budget changes in import duty for import goods under HS code 08 Indian Budget 2016-17 Duty changes for import of Coffee,Tea,Mate and spices Duty changes for import of cereals under Chapter 10 of HS code under new Indian Budget 2016-17 India budget 2016-17 changes in import duty for wheat gluten,malt,starches etc under HS code 11 latest Budget changes in import duty for medicinal plants, seeds, straws etc under HS code 12 Import duty changes for gums,lac, resins, vegetable extracts as per HS code 13 Indian Union Budget 2016-17 changes in import duty for vegetable plaiting materials as per HS code 14 Import duty changes for waxes,fats, animal oil etc under HS chapter 15 under Indian Budget 2016-17 Budget 2016-2017, changes in import duty for edible preparation of fish under HTS code 16 duty changes for import of sugar confectionery and sugars as per new Indian Budget 2016-2017 Changes in taxes for import of cocoa preparations and cocoa as per budget 2016-17 under HS code 18 government tax changes to import cereals,flour,milk etc under HTS code 19 as per new Indian Budget 2016-17 Budget tax changes for import of preparations of fruits,nuts,vegetables etc as per Indian Budget 2016-17 Import tax changes as per Indian Budget 2016-2017 for mis edible preparations Indian union Budget 2016-17, changes in government tax for import of spirit,vinegar,beverage etc Import of animal feed, latest import duty changes as per Budget 2016-17 India Budget changes in import tariff for tobacco Import duty tariff changes for salt,lime,cement,sulfur etc under Indian Budget 2016-17 Indian Union Budget 2016-17, import tariff changes for slag,ash and ores Govt tariff changes for import of mineral fuels, bituminous substance under HS 27 as per Budget 2016-17 Import duty tariff changes for inorganic chemicals and others as per HS code 28 under Indian Budget 2016-17 Indian budget 2016-2017 tariff changes for import of organic chemicals under HS 29 Import duty tariff changes for pharmaceutical products under Indian Budget 2016-17 Import duty changes for fertilizers under HS code 31 as per Indian Budget 2016-17 Govt tariff changes for import of paints,putty, varnishes,inks,dyeing extracts as per Budget 2016-17 Import tariff changes for cosmetics, oils and resinoids, perfumery under HS code 33 as per new Indian budget Latest Indian budget changes for import of soap, washing preparations, lubricating preparations and artificial waxes Duty tariff changes for import of glues,starches, enzymes as per latest Indian Budget 2016-17 Import tax tariff changes for explosives, matches, pyrotechnic products as per Indian Union Budget 2016-17 Government tax tariff changes for import of photographic or cinematographic goods under Indian Budget 2016-17 Import duty changes for miscellaneous chemical products under HS code 38 as per Indian Budget 2016-17 12 Major risks and solutions in Imports and Exports Types of export containers Foreign Trade Policy of India 2015-2020 Dispute settlement in international business Export Promotion Councils and Commodity Boards, product wise Foreign Trade Agreements of India MEIS scheme for Indian Exporters India Chile Preferential Trade Agreement Indian Union Budget 2016-2017, changes in import customs duty Indian Budget 2016-17, Excise duty tariff changes How to set up an export import firm in India Export marketing : How to get order How to send export samples to foreign buyer? Tips to send samples to foreign buyer Why prefer exports? How does a Running bond work? How does Bill of Lading work in DP payment terms? How does Bill of Lading work in Sight LC Transferability of Bill of Lading Transhipment - A redefinition Triangular shipment Types of Insurance Documents How does CENVAT Credit work? Import General Manifest (IGM) Importance of Bill of Lading Is Airway bill a documents of title? Is Customs House Agents (CHA ) required to be appointed mandatory? Is DP terms of payment safe in export business? Is Letter of Credit LC safe for an Importer? Is ON BOARD CERTIFICATE required for LC negotiation What is VACIS exam in US import customs clearance When can an exporter release bill of lading from shipping company? When does exporter get EP copy of shipping bill after customs clearance How does CFR term of delivery work in Export Import business How does comprehensive policy of ECGC work for exporters? The role of CBEC - Central Board of Excise and Customs in India. The role of Export Inspection Agency in Pre-shipment Inspection & Quality Control The role of Reserve Bank of India The Role of the International Chamber of Commerce (ICC) Negotiation procedures and formalities of export bills Non receipt of Cargo Arrival Notice, Can importer sue against shipping company OBJECTIVES OF CUSTOMS CONTROL for EXPORT GOODS OBL not released OBL not surrendered no telex release Payment procedures in Triangular exports Who is Stevedores Who receives the amount of auctioned / resold imported unclaimed/un-cleared goods? Why demurrage/detention waiver period is required at destination for import Comments Yesvee: On 10 August 2016 Introduce my self, our company name is Yesvee Industries, Coimbatore, India, we have Manufacturer exporter of Paper machinery spares, now we need clarification for one roll Import (purchase) form Italy, but this roll supply (sales) to Malaysia. My Clarification Is: - Buyer from: India Purchase from: Italy End User (supply) to: Malaysia How this good directly supply (sale) to Malaysia. Please clarify in Excise & Customs & RBI Rules and Documentation. A G KUMARASWAMY: On 30 July 2021 I AM EXPECTING AN ADVANCE PAYMENT FROM FOREIGN IMPORTER.PLEASE INFORM THE PROCEDURE