https://www.taxtmi.com/caselaws?id=459348 HC ruled in favor of petitioner regarding third-party export remittance credit. Court interpreted RBI Circulars 70/2013 and 100/2014, finding no absolute embargo on third-party payments for exports. Bank's refusal to credit remittance was unjustified as export was evidenced by shipping bills and SWIFT message confirmed payment for specific invoice. Court directed respondent bank to issue credit confirmation and BRC for third-party remittance within one month, emphasizing banks' obligation to facilitate legitimate export transactions. en-us Thu, 27 Jul 2017 00:00:00 +0530 Tue, 10 Dec 2024 19:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459348 HC ruled in favor of petitioner regarding third-party export remittance credit. Court interpreted RBI Circulars 70/2013 and 100/2014, finding no absolute embargo on third-party payments for exports. Bank's refusal to credit remittance was unjustified as export was evidenced by shipping bills and SWIFT message confirmed payment for specific invoice. Court directed respondent bank to issue credit confirmation and BRC for third-party remittance within one month, emphasizing banks' obligation to facilitate legitimate export transactions. Case-Laws Indian Laws Thu, 27 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459348