High sea sales transaction
This query is : Resolved
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
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
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on TRUST
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
