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13.8 GR (GUARANTEED REMITTANCES) FORM
13.8.1 MEANING
This is prepared the duplicate in case of all shipments other
than Nepal and Bhutan and submitted to customs Authorities at the
part of shipment.
The GR formality is to be completed as per the rules of RBI.
The GR form is a declaration form, wherein,
the exporter
guarantees to realize the full value of export proceeds within a
stipulated period, which is normally 180
days from the date of
exports.
GR Form is an exchange control document which is to be
submitted to the Reserve Bank of India
after clearance from the
customs Authorities, contents of the GR Form.
a)
Name of the exporter
b) Name of the negotiation bank.
c) Currency in which payment will be received.
d) Currency in which payment will be received.
e)
Name of buyer‟s country.
f) Port of origin.
g) Port of destination
h) Commission or discount payable on export.
i) Quality, quantity and value of export.
13.8.2 PREPARATION OF GR FORM
a) GR Form is used for declaring exports to all countries other
than Nepal and Bhutan. It is to be completed in duplicate.
b) GR Form is used to declare receipt of foreign exchange.
c) All entries should be made in the currency of the invoice.
d)
Bank‟s name concerned with the realization of export
proceeds should be noted clearly.
e) The code number of exporter should be noted correctly and
clauses which are not applicable should be scored out.
13.8.3 PROCESSING OF GR FORM
After examination of the particulars in the form, customs will
certify the export value on both the copies of GR Forms. Original
copy is sent to the RBI by customs and the second copy is handed
over to the exporter. The exporter hands over the duplicate copy of
