Can we export textile items in indian rupees?
Kapil Tiwari
(Querist) 08 August 2012
This query is : Resolved
Normally, exports are made
in US Dollars/Euro/Sterling Pounds, etc. Some consultants in the field of textile exports are now suggesting that exports, even to non-Asia Clearing Union countries such as UK and Japan, can be made in Indian Rupees! This necessarily entails that:
1) Invoices will be in Indian Rupees
2) Customs shipping bills will be in Indian Rupees
3) G.R.Forms will be in Indian Rupees
Is this really possible and allowed? Can anyone guide me to some written reference, policy notification, etc. which confirms that exports in Rupees are freely allowed by the Indian Government?
Can we claim duty drawback against such exports in Indian Rupees?Again, I request that you suggest some written reference material or notification confirming this.
Guest
(Expert) 08 August 2012
Depends solely on the willingness of the importing client of the other country.
About duty drawback, that can be possible if that is not dependant upon the conditions of export to be in US dollars. For further clarification, you may however go through the Govt. of India notification at the following link:
http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k8/csnt103-2k8.htm
Kapil Tiwari
(Querist) 08 August 2012
Thank you very much, Dhingraji!
Guest
(Expert) 08 August 2012
You are welcome.
