QUERY AGAINST BAD DEBTS WRITE OFF ON SALES ON EXPORT/IMPORT OF GOODS OR SERVICE

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Dear ,

I want to know about the write off provision if i am selling the goods & service to europe and some goods and services bought from UAE then my question if my some export company would be default the payment and denied the payment on such goods and when i finalization my account then can i make it provision for bad debts on export party on my books if yes then please share with me complete rule for provision for bad debts on export on sales and if possible kindly share with me some example.

Thanks & Regards

AI Summary

Guidance Sought on Writing Off Bad Debts for European Sales and UAE Purchases; Check FEMA Compliance. A query was raised regarding the write-off provisions for bad debts when selling goods and services to Europe and purchasing from the UAE. The individual asked whether they could make provisions for bad debts in their accounts if an export company defaults on payment. The response advised checking for any violations of FEMA provisions and recommended consulting an expert in the field for detailed guidance.