ramesh (n/a) 13 July 2009

FC-GPR filing

Can any body please help me with an query on FC-GPR filing.

Clause No 7

7. Portfolio and Other Investment (PIS)

It talks about the any other type of investments in terms of Trade Credits, loans other than Direct Investment made.

My query is, If we had taken an approx 3-4 times advance against the monthly exports services, do we need to show this under this category? If yes then under which para number.

Please revert back

Thanks

Ramesh

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8 Replies

ramesh (n/a) 27 July 2009

Dear Mr. Nirav

I have received the confirmation from RBI on the same, please see below:

With regard to your query, you are saying advance is received from your parent company for exports. In the matter, it can be said that if the exports are not effected as yet at end-March 2009, then the advance will have to be reported in the Return as foreign liabilities, at the item 6.1 i. e. Other Capital if the parent company is a Direct Investor in your company, otherwise, the advance will be given at 9.3.1 of item 9.3 i. e. Others.

Regards

Ramesh

ramesh (n/a) 27 July 2009

It says, if any advance is outstanding in foreign currency as on Balance Sheet date and if from the party who is a Direct Investor then it should be shown in 6.1 of FORM, and if the party is non investor then it should be shown in 9.3.1.

I hope this is what you were referrring