BILL OF ENTRY

[PAWAN KUMAR SHARMA]

Date of filing of BE with Bank from which payment is made in foreign currency including LC/DP etc. WHAT LOSS WE WILL BEAR ON ABOVE NON COMPLIANCE

AI Summary

Failure to File Bill of Entry Post-Foreign Payment May Trigger FEMA Action; Clarification Needed on Circumstances A user inquired about the consequences of not complying with the requirement to file a Bill of Entry (BE) with the bank after making a foreign currency payment for imports. One respondent asked for clarification on whether the issue was due to uncontrollable circumstances or just a filing oversight, emphasizing the need for more details. Another respondent explained that after making a foreign currency payment, the BE must be filed under the Customs Act, and the exchange control copy sent to the bank. Failure to do so could result in action under FEMA.