BFM
🔴Importer-exporter code number (IEC) 🔴
To obtain from DGFT and to quote in all declarations. Manner of receipt of export proceeds :
🔴The amount of proceeds can be received through AD banks
➡a) By draft or personal cheque
➡b) F/c notes or TC from buyer on his visit
➡c) To the debit of FCNR/NRE a/c of the buyer
➡d) Any other accepted banking channel
🔴Realization and repatriation of export proceeds :
➡a) 9 months from the date of shipment except
➡b) 15 months from the date of shipment, if export to warehouse outside India
➡Advance payment against export : The shipment of goods to be made within one year and rate of interest does not exceed LIBOR + 100 BPS
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