Formalities for inward remittance
This query is : Resolved
Guru murthy
(Querist)
13 March 2020
sir,
we received an order from overseas buyer for manufacturing of garments
the garments to be handed over to an exporter in India for further process and Export in his name
buyer will make payment in US$ to us the manufacturing charges and exporter for other processing charges
we are raising invoice to buyer for the garment manufacture value and we get the payment
please advise what is the procedures and formalities to be followed by us
request you to advise
thanks
madhava guru
we received an order from overseas buyer for manufacturing of garments
the garments to be handed over to an exporter in India for further process and Export in his name
buyer will make payment in US$ to us the manufacturing charges and exporter for other processing charges
we are raising invoice to buyer for the garment manufacture value and we get the payment
please advise what is the procedures and formalities to be followed by us
request you to advise
thanks
madhava guru
CA R SEETHARAMAN
(Expert)
13 March 2020
Register under GST. Furnish letter of undertaking in GST portal to avoid GST payment on such export. Meet your banker with export orders and invoice for receiving the money.
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