{"id":930,"date":"2015-02-11T00:00:00","date_gmt":"2015-02-10T18:30:00","guid":{"rendered":""},"modified":"2015-12-30T14:59:22","modified_gmt":"2015-12-30T09:29:22","slug":"doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/","title":{"rendered":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation"},"content":{"rendered":"\n\n\n
\n

RBI\/2014-15\/461
A. P. (DIR Series) Circular No.74<\/strong><\/p>\n

February 09, 2015<\/strong><\/p>\n

<\/p>\n

To<\/p>\n

All Category-I Authorised Dealer Banks<\/p>\n

Madam \/ Sir,<\/p>\n

Delay in Utilization of Advance Received for Exports<\/p>\n

Attention of Authorised Dealer Category \u2013 I (AD Category \u2013 I) banks is invited to the sub-regulation (1) of Regulation 16 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, notified vide Notification No. FEMA 23 \/ RB-2000, dated May 3, 2000<\/a>, as amended from time to time read with A.P. (DIR Series) Circular No. 105 dated May 20, 2013<\/a>, A.P. (DIR Series) Circular No. 108 dated June 11, 2013<\/a> and A.P. (DIR Series) Circular No. 37 dated November 20, 2014<\/a> in terms of which an exporter receiving an advance payment for exports (with or without interest) from a buyer outside India shall be under an obligation to ensure that the shipment of goods is made within the stipulated period from the date of receipt of advance payment.<\/p>\n

2. As it has been observed that there is substantial increase in the number and amount of advances received for exports remaining outstanding beyond the stipulated period on account of non-performance of such exports (shipments in case of export of goods), AD Category \u2013I banks are advised to efficiently follow up with the concerned exporters in order to ensure that export performance (shipments in case of export of goods) are completed within the stipulated time period.<\/p>\n

3. It is further reiterated that AD category \u2013I banks should exercise proper due diligence and ensure compliance with KYC and AML guidelines so that only bonafide export advances flow into India. Doubtful cases as also instances of chronic defaulters may be referred to Directorate of Enforcement (DoE) for further investigation. A quarterly statement indicating details of such cases (as per Annex) may be forwarded to the concerned Regional Offices of RBI within 21 days from the end of each quarter.<\/p>\n

4. AD Category \u2013 I banks may bring the contents of this circular to the notice of their constituents and customers concerned.<\/p>\n

5. The directions contained in this circular have been issued under Section 10 (4) and Section 11 (1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions \/ approvals, if any, required under any other law.<\/p>\n

Yours faithfully,<\/p>\n

(C. D. Srinivasan)
Chief General Manager<\/p>\n

\n

<\/a>Annex<\/p>\n

Quarterly Statement showing details of overdue Export Advances
(Statement for the quarter ended \u2026\u2026\u2026 , 20\u2026 )<\/p>\n

Name and Address of the Bank:<\/p>\n\n\n\n\n\n\n\n
S. No<\/td>\nAD Code
(Part-I code)<\/td>\n		AD reference No.<\/td>\nName & Address of the Exporter<\/td>\nName & Address of the Foreign buyer<\/td>\nDetails of Advance Received<\/td>\nAmount outstanding (in case of part exports)<\/td>\nReasons for non-export<\/td>\nIf reference made to DoE<\/td>\n<\/tr>\n
Date<\/td>\nCurrency<\/td>\nAmount<\/td>\nDate<\/td>\nReasons<\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

RBI\/2014-15\/461A. P. (DIR Series) Circular No.74 February 09, 2015 To All Category-I Authorised Dealer Banks Madam \/ Sir, Delay in Utilization of Advance Received for Exports Attention of Authorised Dealer Category \u2013 I (AD Category \u2013 I) banks is invited to the sub-regulation (1) of Regulation 16 of the Foreign Exchange Management (Export of Goods … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[240],"yoast_head":"\nDoubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance\" \/>\n<meta property=\"og:description\" content=\"RBI\/2014-15\/461A. P. (DIR Series) Circular No.74 February 09, 2015 To All Category-I Authorised Dealer Banks Madam \/ Sir, Delay in Utilization of Advance Received for Exports Attention of Authorised Dealer Category \u2013 I (AD Category \u2013 I) banks is invited to the sub-regulation (1) of Regulation 16 of the Foreign Exchange Management (Export of Goods ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\" \/>\n<meta property=\"og:site_name\" content=\"All About Finance\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-10T18:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-30T09:29:22+00:00\" \/>\n<meta name=\"author\" content=\"Taxclick Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Taxclick Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\"},\"author\":{\"name\":\"Taxclick Team\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\"},\"headline\":\"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation\",\"datePublished\":\"2015-02-10T18:30:00+00:00\",\"dateModified\":\"2015-12-30T09:29:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\"},\"wordCount\":488,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"keywords\":[\"advance\"],\"articleSection\":[\"EXIM\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\",\"url\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\",\"name\":\"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance\",\"isPartOf\":{\"@id\":\"https:\/\/taxclick.org\/#website\"},\"datePublished\":\"2015-02-10T18:30:00+00:00\",\"dateModified\":\"2015-12-30T09:29:22+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/taxclick.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/taxclick.org\/#website\",\"url\":\"https:\/\/taxclick.org\/\",\"name\":\"All About Finance\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/taxclick.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/taxclick.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/taxclick.org\/#organization\",\"name\":\"All About Finance\",\"url\":\"https:\/\/taxclick.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"contentUrl\":\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png\",\"width\":235,\"height\":68,\"caption\":\"All About Finance\"},\"image\":{\"@id\":\"https:\/\/taxclick.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227\",\"name\":\"Taxclick Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/taxclick.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g\",\"caption\":\"Taxclick Team\"},\"description\":\"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.\",\"url\":\"https:\/\/taxclick.org\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/","og_locale":"en_US","og_type":"article","og_title":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance","og_description":"RBI\/2014-15\/461A. P. (DIR Series) Circular No.74 February 09, 2015 To All Category-I Authorised Dealer Banks Madam \/ Sir, Delay in Utilization of Advance Received for Exports Attention of Authorised Dealer Category \u2013 I (AD Category \u2013 I) banks is invited to the sub-regulation (1) of Regulation 16 of the Foreign Exchange Management (Export of Goods ... Read more","og_url":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/","og_site_name":"All About Finance","article_published_time":"2015-02-10T18:30:00+00:00","article_modified_time":"2015-12-30T09:29:22+00:00","author":"Taxclick Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Taxclick Team","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#article","isPartOf":{"@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/"},"author":{"name":"Taxclick Team","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227"},"headline":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation","datePublished":"2015-02-10T18:30:00+00:00","dateModified":"2015-12-30T09:29:22+00:00","mainEntityOfPage":{"@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/"},"wordCount":488,"commentCount":0,"publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"keywords":["advance"],"articleSection":["EXIM"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/","url":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/","name":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation - All About Finance","isPartOf":{"@id":"https:\/\/taxclick.org\/#website"},"datePublished":"2015-02-10T18:30:00+00:00","dateModified":"2015-12-30T09:29:22+00:00","breadcrumb":{"@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/taxclick.org\/type\/exim\/doubtful-cases-of-delay-in-utilization-of-advance-received-for-exports-may-be-referred-to-directorate-of-enforcement-for-further-investigation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/taxclick.org\/"},{"@type":"ListItem","position":2,"name":"Doubtful cases of Delay in Utilization of Advance Received for Exports, may be referred to Directorate of Enforcement for further investigation"}]},{"@type":"WebSite","@id":"https:\/\/taxclick.org\/#website","url":"https:\/\/taxclick.org\/","name":"All About Finance","description":"","publisher":{"@id":"https:\/\/taxclick.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/taxclick.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/taxclick.org\/#organization","name":"All About Finance","url":"https:\/\/taxclick.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/","url":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","contentUrl":"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/01\/taxclick-logo.png","width":235,"height":68,"caption":"All About Finance"},"image":{"@id":"https:\/\/taxclick.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/taxclick.org\/#\/schema\/person\/001610fef58d5ab169d94a2403c6a227","name":"Taxclick Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/taxclick.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6fa54245d717c2dfae29cb1bb4ee5d9?s=96&d=ANSPRESS_AVATAR_SRC&r=g","caption":"Taxclick Team"},"description":"This is the team of the finance profession who, update the site on daily basis. The team is also responsible for giving the update as earliest and also give the timely reply to the quires asked by the visitors. The team can be reached at info@taxclick.org.","url":"https:\/\/taxclick.org\/author\/admin\/"}]}},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"yarpp-thumbnail":false},"uagb_author_info":{"display_name":"Taxclick Team","author_link":"https:\/\/taxclick.org\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"RBI\/2014-15\/461A. P. (DIR Series) Circular No.74 February 09, 2015 To All Category-I Authorised Dealer Banks Madam \/ Sir, Delay in Utilization of Advance Received for Exports Attention of Authorised Dealer Category \u2013 I (AD Category \u2013 I) banks is invited to the sub-regulation (1) of Regulation 16 of the Foreign Exchange Management (Export of Goods…","_links":{"self":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/930"}],"collection":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/comments?post=930"}],"version-history":[{"count":0,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/posts\/930\/revisions"}],"wp:attachment":[{"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/media?parent=930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/categories?post=930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxclick.org\/wp-json\/wp\/v2\/tags?post=930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}