Special Facility of Write Off of Unrealized Export Bill to Status Holders :
Status holder exporters, (viz. Export Houses, Trading Houses, Star Trading Houses, Super Star Trading Houses) and manufacturer exporters exporting more than 50 percent of their production and recognized as such by DGFT are permitted to write off' outstanding export bills upto an annual limit of 5 percent or their average annual realizations (not turnover) during the
preceding 3 calendar years. The limit of 50% will be cumulatively available in a year and will be subject to the following conditions.
The exporter should submit to the concerned authorised dealer a Chartered Accountant's certificate indicaiing…
(a) The export realisation in the preceding three calendar years and also the amount of write off already availed of during the year, if any…..
(b) The relevant GR / SDF Nos. to be written off, Bill No., invoice value, commodity exported, country of export….
(c) The export benefits, if any, availed of by the exporter have been surrendered…..
It is clarified that the followings do not qualify for the write off facility.
(a) Exports made to countries with externalisation problem i.e. where the overseas buyer has deposited the value of export in local currency but the amount has not been allowed to be repatriated by the central banking authorities of the country.
(b) GR / SDF forms which are under investigation by agencies like Enforcement Directorate, Directorate of Revenue Intelligence and Central Bureau of Investigation as also the outstanding bills which are subject matter of civil/criminal suit.
After the WRITE OFF has been permitted authorised dealer may submit the duplicate GR / SDF forms in question to the Reserve Bank along with R-Return, duly certified as under.
Write off of... . (Amount in words and figures)
Stamp & Singnatureof Authorised Dealer :
Related Links :
Application for Dealership
Basic Agreement Forms
Basics of Business Letters
Business Idioms & Phrases
Business Promotion Letter
Business Proposal Letters
Forms and Pro-Formas
Going Out of Business Letters
Tenancy Related Letters
Types of Business Letters
Writing Business Letters
How to Export? Index
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