未实现出口单据的“核销”——货物与服务出口——程序简化

Exports are available with various incentives in India such as refund of taxes paid with respect to export, various duty free scripts, Duty Drawbacks etc. However, all such incentives are available subject to realisation of consideration for export of goods or services. 

Writing off amount receivables in books of accounts is permitted. However, norms are not that easy when balance with respect to export bills is to be written off. Reserve Bank of India has prescribed various rules and regulations for writing of unrealised export bills.

In this article we will discuss an elaborate insight into what a write-off is, what are the RBI and FEMA guidelines regarding unrealised export bills, Write-off relaxation, and extension of time etc..

1. What is a Write-Off of unrealised export bills?

Whenever a business carries out sale of goods or supply of services then the amount receivable against such sales is recorded as “Accounts Receivables” in books of accounts. However, in many situations, such amounts never get released due to various reasons such as insolvency of the customer, mutual dispute, fraud on part of the customer etc. In such a scenario, amount pertaining to unrealised sales invoices is required to be written off.

In case of export of goods or services, It is obligatory on the part of the exporter to realize the full consideration of exported goods or services in foreign currency within a stipulated period of time from the date of export of goods and services. 

However, if any amount related to export bills becomes non-realisable then before writing off such amount the exporter is required to adhere guidelines and regulations issued by RBI relating to “Write-off” of unrealised export bills vide RBI/2012-13/435 A.P. (DIR Series) Circular No. 88 dated 12 March 2013 .

2. RBI guidelines on write-off of unrealised export bills

1. In case an exporter has not been able to realize the outstanding export dues despite his/her best efforts, he/she may opt either of the following options to write off the unrealised export invoices:
   • Directly approach the Authorized Dealer Category-I, who had handled the relevant shipping documents, or 
   • Exporter may himself-write-off the amount with appropriate supporting documentary evidence along with a request for write off of the unrealized portion.
2. Write off is allowed subject to the fulfilment of stipulations regarding surrender of incentives prior to “write-off” adduced in the A.P. (DIR Series) Circular No. 03 dated 22 July 2010.
3. After Liberalisation and simplification of procedure of write off, limits prescribed for ¨write-offs¨ of unrealized bills:

Self-write-off by an exporter (Other than Status Holder Exporter)5%*Self-write-off by Status Holder Exporters10%*Write-off by AD (Authorized Dealer)10%*

*Of the total export proceeds realized during the previous calendar year.

3. Conditions for “write-off” of Unrealised Export bills

Unrealised export invoices shall be allowed to write off subject to the following conditions:

1. Specified percentage for written off shall be computed on total export proceeds realised during the previous year.
2. Write off shall be allowed for such invoices which remain outstanding for more than 9 months.
3. The exporter is required to provided satisfactory documentation evidence that he has made every effort to collect the dues;
4. The case must fall under any of the under noted categories:
   • The overseas buyer was declared bankrupt, and a certificate from the official liquidator stating that the export earnings could not be recovered was produced.
   • the overseas buyer is not traceable over a reasonably long period of time.
   • The commodities exported were auctioned or destroyed by the importing country's port, customs, and health officials.  
   • The unrealized amount is the balance payable in a case that was settled with the help of the Indian Embassy, Foreign Chamber of Commerce, or another similar organisation.
   • The unrealized amount indicates the outstanding undrawn balance of an export bill (not exceeding 10% of the invoice value) that proved unattainable despite the exporter's best efforts.      
   • The cost of pursuing legal action would be disproportionate to the amount of the unrealized export bill, or if the exporter, even after winning a court battle against the foreign buyer, was unable to carry out the Court's judgement owing to circumstances beyond his control;
   • Bills were written for the difference between the letter of credit value and the actual export value, or the provisional and actual freight charges, but the amount has remained unrealized due to the foreign buyer's failure to pay the bills, and there are no prospects for realisation.

5. If any proportionate export incentives were used in relation to the related shipments, the exporter is required to surrender such incentive (for situations not covered by A. P. (DIR. Series) Circular No.03 dated July 22, 2010). Before allowing the applicable bills to be wiped off, AD Category – I banks should seek paperwork demonstrating the surrender of any export incentives received.

6. In the case of self-write-off, the exporter must submit a Chartered Accountant's certificate to the concerned AD bank indicating following details:
   • export realisation in the previous calendar year,
   • Amount write-off already claimed during the year, if any, 
   • the relevant GR / SDF Nos. to be written off;
   • Bill No., invoice value, commodity exported, and country of export. 
   • The CA certificate may also indicate that the exporter's export benefits, if any, have been surrendered.

4. Cases where “Write-Off” facility is not available

Following export bills shall not be allowed to be write off under this scheme:

1. Exports to countries with externalisation issues, in which the overseas buyer has deposited the export value in local currency but the amount cannot be repatriated by the country's central banking authorities.
2. The Enforcement Directorate, Directorate of Revenue Intelligence, Central Bureau of Investigation, and others are investigating the EDF (export declaration form), as well as outstanding debts that are the subject of civil and criminal actions.

5. Write-off in cases of payment of claims by ECGC and private insurance companies regulated by Insurance Regulatory and Development Authority (IRDA)

1. 在收到出口商的申请，并附上由印度出口信贷担保公司（ECGC）或受印度保险监管发展局（IRDA）监管的私营保险公司出具的赔付证明（确认已就未结清账单履行赔付义务）后，授权交易商（AD）应核销相关出口单据。
2. 此类核销不受上述10%限额的限制。
3. 激励措施应根据《对外贸易政策》予以退还。
4. 由ECGC及受IRDA监管的私营保险公司以卢比结算的赔款，不应被视为外币出口收汇。

6. 核销放宽政策

自2009年8月27日起，根据2009-14年度《对外贸易政策》（FTP）的规定，在满足以下条件的前提下，FTP项下的任何出口促进计划均不再要求必须实现出口收汇：

1. 根据现行标准，印度储备银行或代表储备银行的I类授权交易商（AD Category – I bank）可酌情批准核销；
2. 出口商需提供相关印度驻外使领馆出具的文件，证明出口款项确实无法从买方处收回；且
3. 此规定不适用于自行核销的情况。
4. 除“关税退税计划”外，若出口商通过2009-14年度FTP项下的任何出口促进计划获益，在满足上述要求的前提下，鼓励I类授权交易商不要坚持要求退还相应的出口激励。即使赔款已由印度出口信贷担保公司（ECGC）结算或已获储备银行批准核销，退税金额仍必须追回。

7. 出口收汇期限的延长

1. 印度储备银行已授权I类授权交易商（AD Category – I banks），无论出口发票金额大小，均可将出口收汇期限从出口之日起延长，每次最长可延长六个月，但须满足以下条件：
   • 执法局/中央调查局及其他调查机构未对发票所涵盖的出口交易进行调查。
   • I类授权交易商确信出口商因不可抗力而无法获得出口收益。
   • 出口商证明出口收益将在延长期内实现。
   • 当申请将期限延长至出口之日起9个月以上时，出口商的未结清总额不得超过100万美元，或不得超过过去三个财政年度平均出口收汇额的10%，以较高者为准。
   • XOS报表应包含所有自出口之日起超过六个月的未结清出口发票。若I类授权交易商已批准延期，则可在“备注”栏中注明延期截止日期。
   • 若出口商已在其他国家对买方提起诉讼，无论涉及金额多少或是否未付，均可获得延期。
2. 当出口商因不可抗力无法实现延长期内货物的收益，但预计若进一步延期则有望实现时。此外，对于不属于第(i)款所述的情况，应通过其I类授权交易商以ETX表格形式（一式两份）向储备银行相关地区办事处提交申请，并附上适当的证明文件。