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Procedures for Furnishing the Forms : The declaration form GR (in duplicate) shall be submitted in duplicate to the commissioner of Customs. After duly verifying and authenticating the declaration form the Commissioner of Customs will forward the original form to the nearest office of the Reserve Bank. The duplicate form is handedover to the exporter for being submitted to the authorised dealer with whom the export documents are negotiated.
The declaration form PP (in duplicate) shall be submitted to the authorized dealer in foreign exchange named in the form. The authorised dealer shall countersign on the form and handover the original form to the exporter. The exporter will submit the form to the postal authorities through which the goods are being despatched. The postal authorities after despatch of the goods, shall forward the declaration form to the nearest office of the Reserve Bank. On realisation of export proceeds the authorised dealer shall after due certification submit the duplicate form to the nearest office of the Reserve Bank.
The declaration form VPJCOD (single copy) shall be submitted to the postal authority with the relative parcel at the time of despatch. The postal authority shall send the form to the nearest office of the Reserve Bank.
State the Nature of Research The nature of research are as below:- (1) Objective & Logical: - Research strives to be logical and objective, applying each possible test
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Introduction: Exports and imports are carried out by traders who are residents of different countries. Goods have to cross national frontiers and several types of physical and fin
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Realisation of Export Proceeds: If an exporter does not realise the export proceeds within the time specified by the Reserve Bank of India, he shall be liable to action in accorda
Compliance with Laws: Every exporter or importer shall comply with the provisions of the Foreign Trade (Development and Regulation) Act, 1992. They will comply with the provisions
Foreign Exchange Transactions : A foreign exchange transaction is ultimately the purchase or sale of one national currency against another arising out of import or export of goods
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