Fema
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2011
Dear All,
A Foreign resident purchased goods from Indian seller by sending $ as consideration for the goods. He sold the same goods to another Indian purchaser without moving goods to foreign.
I want to know what will be the consequence in FEMA & RBI compliance.
Thanks
A Foreign resident purchased goods from Indian seller by sending $ as consideration for the goods. He sold the same goods to another Indian purchaser without moving goods to foreign.
I want to know what will be the consequence in FEMA & RBI compliance.
Thanks
20 September 2011
There will be FEMA compliance till the foreign currency remittance and inward only wheere one willl be require to seek approval of RBI.
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