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,

 

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.