Foreign exchange management act
This query is : Resolved
Bhawana Singhal
(Querist)
07 May 2013
I am working in a Noida based MNC Company as a assistant Finance manager,
My Comapny have received an order from our related party in USA and we have to supply goods to BHEL Gujrat,
we have also receved payment in foreign currency,
As per our dispatch instruction we have to directly supply goods to BHEL in Gujrat,
kindly let me know whether this transaction is possible as per FEMA rules since no bill of lading shall be prepared when we supply goods to BHEl in Guhrat and also let me know how BHEL will make payment to my related party in USA since no bill of entry is being filed.
My Comapny have received an order from our related party in USA and we have to supply goods to BHEL Gujrat,
we have also receved payment in foreign currency,
As per our dispatch instruction we have to directly supply goods to BHEL in Gujrat,
kindly let me know whether this transaction is possible as per FEMA rules since no bill of lading shall be prepared when we supply goods to BHEl in Guhrat and also let me know how BHEL will make payment to my related party in USA since no bill of entry is being filed.
RAMESH KUMAR VERMA
(Expert)
08 May 2013
it seems that your company is service provider.
that is why Bill of entry and bill of Lading had not filed yet.
that is why Bill of entry and bill of Lading had not filed yet.
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