GR WAIVER REQUIREMENT

[SUDHAKAR SIVARAMAN]

WE ARE TRUST FORMED FOR CHARITABLE PURPOSE. WE ARE PLANNING TO EXPORT CYCLES TO SRILANKA FREE OF COST FOR CHARITABLE PURPOSE. NOW CUSTOMS AUTHORITIES ASKING US TO PRODUCE GR WAIVER CERTIFICATE FROM BANK. BUT BANKERS ARE SAYING WE CANNOT GIVE WAIVER CERTIFCATE SINCE ITS NOT COVERED UNDER RBI NOTIFICATION SINCE YOUR ORGANISATION IS TRUST. MY QUESTION IS WHAT IS THE PROCEDURE FOR THIS? IF NO WAIVER CERTIFICATE REQUIRED PLS LET ME KNOW FROM WHERE THIS IS POSSIBLE?

AI Summary

Charitable Trust Faces Bank Hurdle Over GR Waiver for Free Bicycle Exports to Sri Lanka; Seeks RBI Guidance A charitable trust plans to export bicycles to Sri Lanka without charge, but customs requires a GR waiver certificate from a bank, which the bank refuses to provide due to RBI regulations. The trust seeks guidance on the procedure. An advisor suggests following RBI Master Directions and submitting specific documents to the bank, including a CA certificate and commercial invoices marked 'Free of Cost' for customs valuation. The advisor clarifies that the GR waiver will be issued based on these documents, and a free shipping bill should be filed without claiming export incentives.