Invoice in Forex

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Bansi (Querist)
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21 May 2008 This year I have come across sales invoices raised by Indian firm to another Indian Firm in foreign currency - mostly in US $ - in respect of sales/services made during the F.Y. 2007-08. Please note that sellers and buyers are not located in SEZ or EOU or STPI. Both are from DTA territory.

I have gone through some materials under VAT and FEMA but no where I found information pertaining to this - that Indian firm can raise sales/service invoice other than in Indian Rupees.

Please give information with supporting materal from any law/regulations governing such methods

Thanks

Bansi

Bansi (Querist)
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21 May 2008 Forex matter

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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21 May 2008 Please see para 13A.5 of chapter 13 of FeMA Manual. The invoice will be in accordance.

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