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Applicability of fema

This query is : Resolved 
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(Querist)
14 May 2012 Facts of the case:
1. He is a sole proprietor
2. He has foreign clients in his clientele
3. Nature of business is that of Designing and printing
4. He expects to raise invoices of some in foreign currency and some in INR.

Query:
1. Whether FEMA is applicable to this enterprise?
2. If yes, pls can u guide me as to basic details as to how go about with the compliances of the act.
3. The enterprise is to start its operations from the next month.
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
15 May 2012 1. Yes
2. For exports the sum should be realised within 6 months of raising of invoice.


Anuj
femaquery@gmail.com
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