Delay payment

[Guest]

Dear Sir,

We Export goods to a company but we got payment after 10 months, then what we have to do to submit FIRC to bank.

[Suryanarayana Sathineni]

It is not very clear whether the export effected to SEZ is against Advance Authorization or otherwise.

If it is against Advance Authorization, you need to get the payment from SEZ units EFC account in FC. Alternatively, if the export is in general and considering the transaction is export, you may approach the RBI/Authorized Dealer Bank for extending the time limit to submit the BRC/FIRC giv.ing the reasons for such delay in receiving the payment

Regards

Surya

AI Summary

Export Payment Delay: Clarification on Receiving Payment from SEZ Units and Steps for Extensions with RBI or Banks A query was raised about the delay in receiving payment for goods exported to a company, with payment received after 10 months. The response clarified that if the export was against an Advance Authorization, payment should be received from the SEZ units' EFC account in foreign currency. If the export was general, it was suggested to approach the RBI or an Authorized Dealer Bank to request an extension for submitting the BRC/FIRC, providing reasons for the payment delay.