Applicabilty 15 CA and 15 CB on Import of goods.

[deepak gulati]

Some time Banks insist on 15 CA and 15 CB for remmittance for import of goods, is any provision is their that they are not applicable where No TDS is required to be deducted ( Import )

AI Summary

Debate on Forms 15CA and 15CB for Import Remittances Sparks Call for Government Guidance on Bank Practices A discussion on the applicability of forms 15CA and 15CB for remittances related to the import of goods highlights differing practices among banks. One participant argues that these forms are necessary for all forex transactions to assess tax implications, even if TDS is nil. Another suggests that these forms are not applicable for imports and proposes a declaration on company letterhead as an alternative. A third contributor mentions that the forms are used to determine if profits accrue to a non-resident, potentially requiring TDS. The discussion concludes with a request for government clarification due to inconsistent bank requirements.