Fema compliances
This query is : Resolved
VISHAL GARG
(Querist)
11 February 2016
Dear experts,
Our client had acquired some services from its related party in US but had not paid the sum for last 3 years. they simply reinstate the liability every year.On the other hand They are selling services to the same vendor.My question is Whether they can set off this account against receivable?Because I dont have that much awareness about FEMA and RBI gudelines regarding same.If possible kindly share its procedure also.
Our client had acquired some services from its related party in US but had not paid the sum for last 3 years. they simply reinstate the liability every year.On the other hand They are selling services to the same vendor.My question is Whether they can set off this account against receivable?Because I dont have that much awareness about FEMA and RBI gudelines regarding same.If possible kindly share its procedure also.
Rahul Magan
(Expert)
18 February 2016
@ Vishal ~ Pls explain the question again. You are most welcome to quote the name of the company as XYZ. You are also welcome to connect with me at 91-9899242978 in that regards ~ Rahul Magan
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