I have query on high seas sales transactions. Can an importer who buys the material from foreign party make the invoice to its customer in foreign currency for high sea sale?
e.g.
'A' Imports material from European supplier in currency Euro. The payment to European supplier is made in Foreign Currency
'A' sells this material to Indian Customer "B" on high sea sales basis before arrival of material. All documents are supported for this transaction
Query: Can "A" raise invoice in EURO to customer B and receive the fund in EURO?
CAclubindia
