Foreign exchange ???
This query is : Open
uday singh Negi
(Querist)
26 November 2012
Dear sir
Suppose we raised invoice to our sister concern in Bangladesh of 1000 usd
Can we received this amount from honkong ( also sister concern , our head office ) on behalf of Bangladesh?
experts please reply
thanks
Suppose we raised invoice to our sister concern in Bangladesh of 1000 usd
Can we received this amount from honkong ( also sister concern , our head office ) on behalf of Bangladesh?
experts please reply
thanks
CA Hardik Bunha
(Expert)
26 November 2012
Yes, this is a revenue transaction.
uday singh Negi
(Querist)
26 November 2012
means thier is no problem of fema ?
CA. Anuj Gupta
(Expert)
27 November 2012
This is not permitted under FEMA.
Anuj
Femaquery@gmail.com
Anuj
Femaquery@gmail.com
27 November 2012
Mr Anuj is very much correct.
As per Indian rules you have to receive the funds from the country as mentioned in your Invoice.
In case it is received from another source or country your bank will not issue any FIRC which may also harm you during assessment of VAT case.
contact@vkbajaj.co.in
As per Indian rules you have to receive the funds from the country as mentioned in your Invoice.
In case it is received from another source or country your bank will not issue any FIRC which may also harm you during assessment of VAT case.
contact@vkbajaj.co.in
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