Export of Services-Fema

[Jaya Singh]

As per FEMA guidelines, write off of export receivables is allowed upto 5% of Export realisation. Whether these rules apply to only export of goods or even to export of services as well.

In case of Export of goods, Shipping bill is prepared through which the details of Export are available with the RBI / AD Bank. However, in case of Export of Services, there is no shipping bill (or if there is any other form through which it gets reported to RBI / AD Bank). If there is no information available with the RBI / AD Bank and the limit of write off upto 5% applies to service transactions, how is this limit tracked?

Thanks & Regards,

Jaya Vinay Singh

Practising Company Secretary

[Gourav Agarwal]

Hi,

Please read para C.23 of Master Directions export of goods and services.

I believe you have present the case to RBI for approval  through AD bank for writeoff in this regard.

Regards,

Gourav Agarwal

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