non realisation of export proceeds

[khwaja anwar]

Dear Sir,

We are a 100% EOU having the pending non realised export proceeds from more than two years even after our best efforts & as per best of our knowledge the consignee as per A.D. is bankrupt & there are no chance of realisation now.

We wants to know what to do in such a case as we have been issued the SCN by NEPZ in this regard.

Thanks

Khwaja

AI Summary

EOU advised to write off non-realized export proceeds under RBI norms after consignee bankruptcy; SCN received from NEPZ. A 100% Export Oriented Unit (EOU) is facing issues with non-realization of export proceeds for over two years due to the consignee's bankruptcy. They have received a Show Cause Notice (SCN) from NEPZ. The advice given is to write off the non-realized export proceeds according to RBI norms, allowing up to 10% of the export performance from the previous three years. Any benefits previously availed will be reversed in this situation.