Is Violation of FEMA Act1999
This query is : Resolved
Sunil kumar Ray.
(Querist)
28 April 2011
Question: XYZ Pvt Ltd registered in India who is importing raw materials from ABC Enterprises who is registered outside INDIA. ABC Enterprises supply materials to XYZ PVT LTD at site. The expenses of customs duty, transportation charges, service tax and any other charges is born by ABC Enterprises. XYZ PVT LTD paid material cost, customs duty, transportation charges, service tax and anyother charges to ABC Enterprises after 30 days of delivery of materials. So, is there any custom / FEMA violations in this transaction.
RAMESH KUMAR VERMA
(Expert)
28 April 2011
you import goods as per policy procedure and realised the payment to the ABC ENTERPRISES.
IF U IMPORT EXPORT SALES CONTRACT U HAVE NOT VIOLATION THE ACT.
IF U IMPORT EXPORT SALES CONTRACT U HAVE NOT VIOLATION THE ACT.
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