Transaction in foreign currency between two indian party

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2014 we would like to make payment to and Indian Company having EFC Account in USD for Visa Services provided by them. In return we will provide this service to our Russian counterpart who will also pay us in USD. Our supplier will raise this invoice in USD as they further have to make payment in USD.

Now please advise us whether we can make payment to Indian Supplier in USD and what are the documents you will be requiring for the same.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 July 2014 You can make payment in USD only to the extent of your Indian company intern makes any payment in USD for this visa service. For the balance you have pay in Rupees being Indian company.