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,
Navigating Complex Export Scenario: Resolving Goods Rejection, Payment Disputes, and Regulatory Compliance under Foreign Exchange Guidelines A company exported goods to a sanctioned country and received payment, but the customer rejected the goods and requested reimbursement of import expenses. The discussion explores how to handle the export rejection, close the Bill of Entry (BOE), and manage the financial implications through the authorized dealer bank, considering potential re-import options and reporting requirements under foreign exchange regulations. (AI Summary)
TaxTMI 
TaxTMI 
