We recieved an Inward Remittance for our Export Transaction & simuleneously we also had to make an Outward Remittance for our Import transaction on the same day in same Curreny in USD$. Our bankers charged us Rs. 1944 + Service tax on an outward remittance from EEFC account itself, where no cost is involved from Bank angle APART FROM THE NORMAL OUTWARD REMITTANCE CHARGES RS. 500 + ST & the Main purpose to park the FOREX funds in EEFC account is to save the FOREX margin expenses for the Exporters / Importers to make an outward remittance.
On one side we are saving cost by on FOREX margin by way of remitting the funds from EEFC account itself ... on the otherside the bankers are charging us EXTRA COMMISSION on % wise for every Outward remitance in same FOREX currency from EEFC account ....
Than what is the use & main purpose of EEFC account >???
We don't have any complaint if bankers are charging their Normal Outward remittance charges Rs. 500 + ST as mentioned above , But our Concern is WHY AGAIN EXTRA OUTWARD COMMISSION CHARGES ( RS. 1944 + ST ) FOR REMITING THE FUNDS FROM EEFC ACCOUNT ?????
REGDS
HARSHIT PAREKH
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