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FEMA

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(Querist)
28 January 2011 Two Indian companies have entered into contract wherein one company has raised PO in foreign currency. The company on which this PO is raised is subsidiary of a foreign company. Is it possible to raise PO in US$ between two Indian companies.

Thanks & Regards
Rishi
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
28 January 2011 PO may be raised other than indian currency between the two indian companies, Even payment will be made in foreign curreny.
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Rishi Vyas

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Rishi Vyas (Querist)
28 January 2011 Dear Sir,

Thanks for the reply.

Could you please specify the relevant provision in FEMA.

Regards
Rishi
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
31 October 2011 I don't think FEMA permits Indian companies to raise invoices in US$ to Indian parties, the same is permitted only in case of STPI and SEZ units .

Anuj
+91-9810106211
femaquery@gmail.com
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