inward remittence

[GANESH IYER]

Dear Sir,

we have one customer who wants us to set up 3PL services in DUBAI for them wherein we will export the consignment to dubai and warehouse the same in Dubai for keeping the ready stock.. By marketing in Dubai the goods will be sold to the customers in GCC countries..

the question is

while filing the shipping bill we will be filing the Invoice to the 3PL service provider in Dubai and the Value will be at X price.But then the selling happens from Dubai to the ultimate customer there will be profit made in that transaction..

how the Money earned from Dubai to the ultimate customer will be transferred to India??as the SDF form while filing the Shipping bill will not match as we will not know the ultimate selling price at the time of export from India..

can anyone explain the RBI guidelines or circular in this regard or the procedure to be followed..

AI Summary

Profits Transfer from Dubai Sales to India: No SDF Form Required, Direct Remittance via Shipping Bill Possible A customer intends to establish third-party logistics (3PL) services in Dubai, exporting consignments to be warehoused and sold to GCC countries. The query concerns how profits from sales in Dubai to ultimate customers can be transferred to India, given that the Shipping Bill's SDF form won't match the final selling price. A response clarifies that, following certain customs circulars, the SDF form is no longer required, and foreign exchange declarations are part of the Shipping Bill, allowing direct remittance. The inquirer further asks if profits can be transferred via a debit note and what supporting documents might be needed.