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How to Submit ECB Return in India

External Commercial Borrowings (ECB) are loans raised by Indian Companies from Foreign Banks or Foreign Body Corporates by Indian Companies, these loans are mainly raised in foreign Currency. Loans Raised by Indian Companies from Foreign Body Corporates or Banks are governed under ECB Framework of Reserve Bank of India and Required Returns are required to be submitted to AD-Bank in India, AD Bank Thereafter send the returns to DSIM

As per the ECB guidelines of the Reserve Bank of India, ECB Returns are required to submit to AD Bank within 7 days of the close of the Monthly.

ECB RETURN
ECB RETURN

Time Limit for Submission of ECB-2 Return

Within 7 Days of the close of the Month, say ECB-2 return for the Month of June 21 should be Submitted by 7th of July 21

Late Submission of ECB-2 Return

Entities that have not filed the ECB Return to AD Bank may also submit ECB Return after the due date with payment of the Late Submission Fee(LSF)

Late Submission Fee For ECB-2 Return

Sr. No.Type of ReturnPeriod of DelayApplicable Late Submission Fee
1.Form ECB 2Up to 30 calendar days from the due date of submissionINR 5,000
2.Form ECB 2Up to three years from the due date of submissionINR 50,000 per year
3.Form ECB 2Beyond three years from the due date of submissionINR 100,000 per year

What is ECB-2 Form

ECB-2 is prescribed form under ECB guidelines under which ECB Return is required to be submitted to RBI

How to Submit ECB Return

ECB Return is required to be submitted Physically to AD Bank Branch designated by AD Bank , you can ask your AD Bank the branch where you need to submit the return and submit accordingly and also you can email the soft copy of return within due date to desigmated officer of AD bank.

Fastlegal Team

Fastlegal is an Online Legal Professional Services Provider Company providing Company Registration, LLP Registration, Nidhi Company Registration, Trademark Registration, GST Registration and Return Filing Services.

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