shipment-A-redefinition-475.aspx">Transhipment - A redefinition
Travelers to India under import duty exemption, Frequently Asked Questions Part 2
Triangular shipment
Types of Insurance Documents.
How does Wire transfer work in international business?
How is assessable value calculated by customs for imports?
How is IGM filed under high sea sale?
How many of you know the meaning of Exports and Imports in India?
EXPORT BILLS REGISTER and FOLLOW-UP OF OVERDUE BILLS, RBI procedures
According to Reserve Bank of India update as on 08th January 2021, the directions on Export Banker's formalities on Maintanence of Export Bill Register and floow up overdue bills is given below:
C.14 Export Bills Register
AD Category – I banks should maintain Export Bills Register, in physical or electronic form aligned with Export Data Processing and Monitoring System (EDPMS). The bill number should be given to all type of export transactions on a financial year basis (i.e. April to March) and same should be reported in EDPMS.
C.15 Follow-up of overdue bills
(i) AD Category – I banks should closely watch realization of bills and in cases where bills remain outstanding, beyond the due date for payment from the date of export, the matter should be promptly taken up with the concerned exporter. If the exporter fails to arrange for delivery of the proceeds within the stipulated period or seek extension of time beyond the stipulated period, the matter should be reported to the Regional Office concerned of the Reserve Bank stating, where possible, the reason for the delay in realizing the proceeds.
(ii) The duplicate copies of EDF/SOFTEX Forms should, continue to be held by AD Category – I banks until the full proceeds are realized, except in case of undrawn balances.
(iii) AD Category – I banks should follow up export outstanding with exporters systematically and vigorously so that action against defaulting exporters does not get delayed. Any laxity in the follow up of realization of export proceeds by AD Category – I banks will be viewed seriously by the Reserve Bank, leading to the invocation of the penal provision under FEMA, 1999.
(iv) With operationalization of EDPMS on March 01, 2014, realization of all export transaction for shipping documents after February 28, 2014 should be reported in EDPMS.
Bank directions to be read by each Exporter in India
Banking regulations on Exports and Imports in India
Exporting to India? Click here to read Bank process in India
Obligation of exporters bank on Receipt of advance against exports Bank process on Grant of EDF waiver for Exporters in India File exemption for EDF filing for Exports in India EDF procedures on Consolidation of air cargo and sea cargo EDF filing on Short Shipments and Shut out Shipments SOFTEX Forms, Banking rules in India Banking rules on Mid-sea trans-shipment of catch by deep sea fishing vessels Bank EDF process on Export of goods through Post Banking EDF rules on Export of goods, export of software done through EDI ports
How to export goods from India?
How to get Export Order?
How does STP units work in India?
How does TT (Telegraphic Transfer) work?
Transferability of Bill of Lading
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