TIME LIMIT AND LIABILITY OF REVERSAL OF FOREX IN CASE OF RECALL

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Within what time limit the forex ,incentives obtained by the exporter are to be reversed? Is it necessary to reverse the forex in case the goods recalled do not physically come back( are destroyed by the foreign importer itself)? Which forum/website governs/exhibits the open entries of such forex reversals?

AI Summary

Exporters Must Return Incentives if Goods Destroyed Abroad and Export Incomplete, Says Rule Clarification An inquiry was made about the time limit and conditions for reversing foreign exchange incentives obtained by exporters if goods are recalled but not physically returned, such as when destroyed by the foreign importer. The response clarified that if the foreign customer does not demand repayment, or if the transaction is adjusted through credit or debit notes, repayment is unnecessary. However, if the export is incomplete, the incentives must be returned to the government with applicable interest.