Rejection of Exported Goods+Refund of export proceeds

[Payal Udasi]

We exported goods to Sanctioned countries and we received the payment as well, However now the customer has rejected the goods and also asked for payment of import expenses bared by them,

We thought of treating as import from the customer, but what about extra payment of reimbursement of expenses to be treated in order to close the BOE on IDPMS,

Regards,

 

[YAGAY and SUN]

Against this Particular Shipping Bill which cleared you EDPMS, Your BoE shall be the foundation for clearing of IDPMS by providing the cross reference, details of communication about export rejection to your AD (Bank). Export Invoice amount will be the assessable value for filing of BOE. Any extra expenses shall be reported to your AD (Bank) to show your bonafides in this transaction.

[Shilpi Jain]

There is a provision which allows you to re-import the goods and remit the proceeds subject to certain conditions. It is suggested to approach the AD Bank for this.

AI Summary

Rejection of exported goods requires BOE cross-reference and AD bank reporting for re-import or reimbursement.
The shipping bill and the filed Bill of Entry (BOE) serve as the foundation for IDPMS closure by providing cross reference and communication of export rejection to the Authorised Dealer bank; the export invoice amount is the assessable value for BOE filing, and any extra reimbursed import expenses must be reported to the AD bank to show bonafides. A separate provision permits re import and remittance of proceeds subject to its conditions, for which the exporter should approach the AD bank to regularise the transaction.