No refund of SAD under notification No.102/2007-Customs dated OLP and PTCR for manufacture of refrigerator compressor exemption clarificationĬlarification on exemption of Liquefied Natural Gas (LNG) for SEZĮxemption of Excise duty of BCD and CVD on power project How to cover the risk of Cargo loss or damageĪrea based excise duty exemption presently available to the North Eastern StatesīED and NCCD on pan masala, tobacco products, crude petroleum, mobile phones and motor vehiclesĬlarification to Department of Scientific and Industrial Research (DSIR)Ĭustoms duty exemption clarification for aircraft engines and parts Why labeling and marking in Export business? How to send export samples to foreign buyer? Tips to send samples to foreign buyer Indian Budget 2016-17, Excise duty tariff changes How to set up an export import firm in India

Indian Union Budget 2016-2017, changes in import customs duty Free foreign exchange remitted by buyer to his nonresident bank (after deducting bank service charges) on account of this transaction would be taken as export realization under export promotion schemes of FTP.ĭispute settlement in international businessĮxport Promotion Councils and Commodity Boards, product wise

Additionally, rupee payment through Vostro account must be against payment in free foreign currency by buyer in his non-resident bank account. However, export proceeds against specific exports may also be realized in rupees, provided it is through a freely convertible Vostro account of a non-resident bank situated in any country other than a member country of Asian Clearing Union (ACU) or Nepal or Bhutan. RBI guidelines on realization of export proceeds be in INRĪs per Foreign Trade policy of India, All export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realized in freely convertible currency. Indian Union Budget 2016-17, Budget speech pdf. Posted on 07 June 2022 Category : For Beginners

All foreign currency in indian rupees