Remittances Connected With Exports



Remittances Connected With Exports :

Agency Commission on Exports (i) Authorized dealers may allow payment of commission either by remittance or by deduction from invoice value on application submitted by the exporter. The remittance of agency commission may be allowed subject to the following conditions.


(a) Amount of commission has been declared on GR / SDF/PP/SOFTEX form and accepted by Customs authorities or Department of Electronic - Government or India / EPZ authorities as the case may be.


In cases where the commission has not been declared on GR / SDF / PP / SOFTEX form, remittance thereof may be allowed after satisfying about the reasons adduced by the exporter for not declaring commission on Export Declaration Form provided a valid agreement / written understanding between the exporter and / or beneficiary for payment of commission subsists.


(b) The relative shipment has already been made.


(ii) Authorized dealer may allow payment of commission by Indian exporters, in respect of their exports covered under counter trade arrangement through Escrow Accounts designated in U.S. dollar subject to the following conditions.


The payment or commission satisfies the conditions as at (a) and (b) stipulated in paragraph above.


The commission is not payable to Escrow Account holders themselves.


The commission should not be allowed by deduction from the invoice value.


NOTE :


Payment or commission is prohibited on export made by Indian partners towards equity participation in an overseas joint venture / wholly owned subsidiary as also exports under Rupee Credit Route.


Refund of Export Proceeds


Refund of export proceeds may be allowed by authorized dealers through whom the proceeds were originally received, provided such goods are reimported into India on account of poor quality and evidence of reimport has been submitted. In all such cases, exporters should be advised to surrender the proportionate incentives availed of, if any, against the relevant export.


Export Claims


Authorized dealers may remit export claims on application provided the relative export proceeds have already been realized and repatriated to India and the exporter is not on the caution list of Reserve Bank. In all such cases of remittances, the exporter should be advised to surrender proportionate export incentive, if any, received by him.



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