export of goods
This query is : Resolved
17 April 2009
Friends,
One indian company exporting goods to uk. they have one person in uk like agent. invoice will be raised in the name of agent. he will sell the goods in uk to various parties. the payment to the indian company, agent will send only 90% of the invoice amount. 10% he will retain.
is there any restriction under fema for this transaction?
One indian company exporting goods to uk. they have one person in uk like agent. invoice will be raised in the name of agent. he will sell the goods in uk to various parties. the payment to the indian company, agent will send only 90% of the invoice amount. 10% he will retain.
is there any restriction under fema for this transaction?
17 April 2009
If you are raising the Bill in the name of the agent, then it becomes as if you have sold to him. You can raise only 90% of the value. If you raise 100% and receive 90% only then you have to inform RBI under FEMA and also you have to give sufficient reasons. You cannot say its a commission because the name in the bill and payment sending person is same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- Banking Related Issue
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Loss of interest in PF transfer from EPFO to Trust
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding reporting of exempt foreign remuneration in ITR
- Taxability of credit in canara bank ET & T section (NRO)
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
