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Forfeiting of advances, Customs - Exim - SEZ

Issue Id: - 5447
Dated: 20-3-2013
By:- SANJIV KOTHARI

Forfeiting of advances

Contents

Dear

We have received export advance from one of Iranian customer for supply of goods. Now customer does not want to take delivery and release balance payment.

Can we forfeit advance so received. Advance was received through UCO bank in INR.

Please let know if some one has idea to dealt such situation.

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Showing Replies 1 to 1 of 1 Records

Page: 1

1 Dated: 20-3-2013
By:- Pradeep Khatri

Please refer Master Circular No. 14/2012-2013 dated 02-07-2012 in this regard. Further, forfeiting of advance payment would depend on your contract terms and conditions.

Page: 1