https://www.taxtmi.com/forum/issue?id=121020 Advance payment received for machinery exports remains subject to FEMA export-completion and monitoring requirements where shipment is delayed by geopolitical disruption. Export is required within three years of receiving advance payment; after that period, refund of unutilised advance or payment of interest requires prior Reserve Bank approval. Receipt without a shipping bill leaves the transaction outstanding in EDPMS until completion, regularisation or closure. The exporter should notify the AD Bank, retain supporting evidence, amend the contract if delivery continues, and process any cancellation refund through the AD Bank. en-us Mon, 13 Jul 2026 13:00:19 +0530 Sun, 19 Jul 2026 05:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121020 Advance payment received for machinery exports remains subject to FEMA export-completion and monitoring requirements where shipment is delayed by geopolitical disruption. Export is required within three years of receiving advance payment; after that period, refund of unutilised advance or payment of interest requires prior Reserve Bank approval. Receipt without a shipping bill leaves the transaction outstanding in EDPMS until completion, regularisation or closure. The exporter should notify the AD Bank, retain supporting evidence, amend the contract if delivery continues, and process any cancellation refund through the AD Bank. Discussion-Forum FEMA Mon, 13 Jul 2026 13:00:19 +0530 https://www.taxtmi.com/forum/issue?id=121020