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What is GR form why we use it and what is the step of GR
FORM by various department as some little knoledge of me it
is used by custom for wher the FERA is applicate. But I
dont now where FERA is applicatble
thanks
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Answer Posted / narayanan s kashyap
GR form ( Guareanteed Remittance) is submitted to customs
dept by the exporter before shipping the good. This form is
submitted to Customs where customs at the harbour is not
computerised( ie EDI - Electronic Data Interchange). The
details like IE code, the product details , the quantity,
number of packets etc will be filled up in the same. The
customs will verify the same and submit one copy back as GR
form is to be submitted in duplicate. The customs copy is
sent to RBI by them. The exporter , his copy known as
Exchange Control copy willl submit the same along with
other export documents to his banker while negotiation
within 21 calendar days from the date of Bill of Lading.
The bank will keep the same and once export proceeds is
received will file the GR form. However in the statement to
RBI (XOS ie Export Outstanding Statement ) by the banks,
RBI will come to know about any export proceedings yet to
be received. They compare it with the GR form submitted by
the customs.
| Is This Answer Correct ? | 71 Yes | 12 No |
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