TaxTMI 
TaxTMI 
3rd Country Exports
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....rd Country Exports<br> Query (Issue) Started By: - Tikam Rawat Dated:- 5-1-2012 Last Reply Date:- 12-1-2012 Customs - Exim - SEZ<br>Got 3 Replies<br>Customs<br>We are Manufacturer Exporter having Trading House status would like to 3rd Country Export such as our supplier is based in Turkey and customer in USA -Is it possible we have to export directly from Turkey to USA -If yes, how can we remit ....
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....the sale proceeds to our supplier in Turkey since there will be no Import Bill of Entry -How we can adjust the inward remittance since there will be no value added Shipping Bill -What will be the norms of RBI Reply By janardanan manojkumar: The Reply: See link to RBI circular http://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=1389&Mode=0 Reply By Tikam Rawat: The Reply: Dear Janardana....
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....n - Link attached belongs to Project Exports, whereas, we would like to know the procedure for out right exports Once again we repeat as : We would like to export from Turkey to our customer in USA, in turn we will remit sale proceeds from India to Turkey to our supplier and our customer will remit value added sale proceeds to us in India Please advise // Thanks Reply By Sanjib Kothari: The Rep....
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....ly: Dear Mr Rawat, You can go for 3rd country exports. There are certain RBI regulation which you have to strictly follow : 1. You must get payment from your USA buyer first prior to remitting to your Turkey supplier 2. There must be some value addition otherwise 3rd country exports are not permitted 3. You must apply for Inward Remittance Certificate from your bank for the receipt of payme....
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....nt credit to your bank from USA customer 4. You are allowed to remit the payment to your Turkey Supplier without submitting the Exchange Control Copy as this is the case of 3rd country exports but you have to enclose documentary evidence of receipt of payment from your USA customer to your bank while asking them for remittance to your Turkey supplier. To the best ofmy knowledge the above is the....
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.... procedure. Warm Regards Sanjib Kothari<br> Discussion Forum - Knowledge Sharing ....