Are Form 15CA & 15 CB mandatory for forex payment against import of Raw Material Goods?

[VIjay Lagad]

Dear Sir/Madam

We are regular Importer for Raw Material from China & Germany. While do ing the Telegraphic Transfer payments , now banks are imposing form 15CA & 15CB certified by CA and along with Form A1. Are these forms are mandatory for the forex payments against import of goods for manufacturing or for machinery spare parts?

Please guide.

Thanks & Regards

VIJAY LAGAD,

CMD,SUPERNOVA, Nashik

AI Summary

Are Forms 15CA and 15CB required for foreign payments on imports from China and Germany? A user inquired whether forms 15CA and 15CB, certified by a Chartered Accountant, are mandatory for foreign exchange payments related to the import of raw materials and machinery spare parts from China and Germany. The query highlights that banks are currently requiring these forms along with Form A1 for telegraphic transfer payments. The user seeks guidance on whether these forms are necessary for such transactions.