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TMI BlogAgency commission on import of goods - remittenceX X X X Extracts X X X X X X X X Extracts X X X X ..... agency commission inadvertantly not declared in shipping bill . whether commission can be remitted in view of this mistake. - Reply By Surender Gupta - The Reply = You read the para C-26 of the master circular issued by RBI (http://www.taxmanagementindia.com/Site-Map/FEMA/detail_circular.asp?ID=6379)which is read as udner: AD Category – I banks may allow payment of commission, either by remit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tance or by deduction from invoice value, on application submitted by the exporter. The remittance on agency commission may be allowed subject to the following conditions: a) Amount of commission has been declared on GR/SDF/PP/SOFTEX form and accepted by the Customs authorities or Ministry of Information Technology, Government of India / EPZ authorities as the case may be. In cases where the commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssion has not been declared on GR/SDF/PP/SOFTEX form, remittance may be allowed after satisfying the reasons adduced by the exporter for not declaring commission on Export Declaration Form, provided a valid agreement/written understanding between the exporters and/or beneficiary for payment of commission exists. b) The relative shipment has already been made. - Agency commission on import of goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - remittence - Query Started By: - satbir singh wahi Dated:- 17-5-2010 FEMA - Foreign Exchange Management - Got 1 Reply - FEMA - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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