High sea sales transaction

This query is : Resolved

CA Chartered (Querist)
Follow

29 July 2016 Hi Experts,

I have query on high seas sales transactions. Can an importer who buys the material from foreign party make the invoice to its customer in foreign currency for high sea sale?

e.g.

'A' Imports material from European supplier in currency Euro. The payment to European supplier is made in Foreign Currency

'A' sells this material to Indian Customer "B" on high sea sales basis before arrival of material. All documents are supported for this transaction

Query: Can "A" raise invoice in EURO to customer B and receive the fund in EURO?

Await your expert inputs
Thanks

Dr.RAMAKRISHNA. C

Dr.RAMAKRISHNA. C (Expert)
Follow

19 August 2016 Yes. You may pay to A in Euro and B may recieve from A i Euro

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

bhavesh

Srikanthan S

rana andcompany

Pranab Banerjee

Gurunathan kannan

Subscribe Now

High sea sales transaction

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

GST CONSULTANT

CA Final

GST CONSULTANCY

Senior Executive