Delay in PayPal Funds Transfer

[cosycom]

Hi friends , Normally all funds withdrawn from Paypal to our bank account are credited within 3 to 5 days .
I have withdrawn some funds on 19th feb 09 . Paypal shows funds already transfered but they are not received in my ICICI account till date . Anybody else also facing same problem ???????

Paypal seem to have an office in India but their address and contact information is not available anywhere .:(

Regards

Narinder

[cosycom]

Dear all , although there are no clear guidelines issued by eBay till date . I have compiled following information towards cross border trade procedures .

The procedure is very simple for goods valued upto USD 25000/- No PP form or GR processing is required .

(1) Receive payments for your orders in Indian rupee or any foreign currency through authorized foreign exchange dealer bank etc. Paisapay & paypal are issuing payments to our accounts in Indian Rupees so no problem for these payments.

(2) If shipping through Post parcel or EMS then place one copy of Invoice inside the parcel & attach 4 copies of invoice outside the parcel for processing at customs in either country .Invoice must bear your IEC number .

(3) if shipping throgh couriers then you need to provide 7 copies of invoice to your courier + your copy of IEC number + any other documents your courier company asks for, like proof of advance payment FIRC , form SDF , authorized dealer code etc.

(4) Maintain your accounts in all respect showing which payment is received against respective invoices for any later questionig by IT or any other concerned deparments.

Following RBI notification may be refered in this regard .

http://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=1462&Mode=0

However I will appreciate if someone from ebay can confirm this information for satisfaction of all.

Regards

Narinder

[muteyaar]

hey all sellers,


click on this link to get more knowledge about exports:

http://www.sbbjbank.com/faq/TRADE-FINANCE-export.htm#20

regards,

muteyaar

[amitava123gems]

Hi,
This is a very good link.
Also for small exporters, what Narinder said is perfectly okay.
I think we should not bother too much. But I am still not comfortable.
Thanx,
Truly,
Amitava

[shree_krishna_gems]

Hello,
There is no clear guidelines as how to proceed with PayPal for selling on eBay.

It is surprising that none from eBay had replied regarding the procedure for selling through PayPal.



Best Regards,
Deep Agarwal.
Shree Krishna Gems

[nsjewelsindia]

all i can say in this regard that in rbi fed office its not clear to them as well that its a commercial export or local or personal payments . i cant tell details but its the fact.
thank you

[vismat_mega_store]

Hi all,

I am a very small seller on ebay. I sell stamps.i charge just 0.99$ for a single stamp and in a month i just earn around 70 to 80$.before i was happy to pay rs 50 for bank withdrawal but now as one has to have an IEC code...
For such small sale do i need an IEC and if yes then how do i get the invoice for the stamp as post office will not give any bill when u buy a stamp..or for a used stamp how do i get a bill....Plus tp get an IEC i need TIN number and current bank accountwhich costs huge....i am confused pls help.

[real.phoenix]

Hi Sainathphila,

You don't need an IEC unless each of your shipment is more than USD 25000.00

Post Office will give you a receipt if you purchase the stamps from the Philately department. But you shouldn't be worried about these small issues. You are not doing some multi-crore transaction that you should be worried so much. The IT department won't even be able to cover up their 'Raid' expense if they come to your house/office 🙂

Having a TIN is a different thing. It is helpful for your tax purpose and in this way you can do a business.

Opening a current account isn't a difficult thing. You just need to have a firm registered under your / your family member's name and maintain an inventory of min. INR 10000.00

By registering a firm, you can sell any item in any quantity inside or outside India. Why don't you search for the products and try selling more items?

Kind Regards,
Mustufa

[real.phoenix]

Please read 'deposit' instead of 'inventory' in my last post.

[vismat_mega_store]

@ phenoix...While requesting withdrawal what purpose should I click???

[gora_web]

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