TaxTMI 
TaxTMI 
Evidence of Import under Import Data Processing and Monitoring System (IDPMS)
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....ence of Import under Import Data Processing and Monitoring System (IDPMS) Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 05 dated October 06, 2016 read with Section 5 and Section 10 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Man....
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.... in IDPMS through "Manual BOE reporting" process. In order to enhance ease of doing business and reduce transaction costs, it has been decided to discontinue submission of hardcopy of Evidence of Import documents i.e. BoE, with effect from December 01, 2016, as it is available in IDPMS. The revised procedures are as set out below: i. AD Category - I bank will enter BoE details (BoE number, port....
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....39;s full name and address with code number ; • number and date of BoE and the amount of import; and • a recap advice on number and amount of BoE and ORM not settled for the importer. iv. The importer needs to preserve the printed 'Importer copy' of BoE as evidence of import and acknowledgement slip for future use. 3. The extant instructions and guidelines for Evide....
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.... - I banks shall follow up with the importer in terms of extant instructions. 5. Verification and Preservation: Internal inspectors and IS auditors (including external auditors appointed by AD Category - I bank) should carry out verification and IS audit and assurance of the "BOE Settlement" process in IDPMS. Data and process followed by AD Category -I bank for "BOE Settlement" should be preser....