23 June 2012
HI THE COMPANY IN SEZ UNIT IS SAYING TO ISSUE THE INVOICE IN USD FOR THE SUPPLIES MADE FOR WHICH THEY WILL MAKE THE PAYMENT IN USD> MY QUESTION IS WHETHER INDIAN COMPANY REGISTERED UNDER COMPANIES ACT IN DTA CAN ISSUE THE INVOICE IN USD & REECEIVE THE PAYMENT IN USD AGAINST IT?
23 June 2012
Legally & procedure wise it is absolutely okay. SEZ Unit's being SEZ can make or receive payments in Freely Convertible Foreign Currency from / to DTA units.
Check on whether it is practically okay or not ( Should be okay as $ prices are going up)
CAclubindia
