Offsetting of foreign currency receivables and payables
This query is : Resolved
kartik_somu
(Querist)
20 June 2011
Is it possible to offset receivables from an affiliated entity in Germany with payable to the same company?
pls explain with notification/circular, if any?
pls explain with notification/circular, if any?
CA. Anuj Gupta
(Expert)
22 June 2011
The same is not permitted under FEMA. If you want to do it you need to obtain specific permission from RBI.
Anuj
0-9810106211
Anuj
0-9810106211
kartik_somu
(Querist)
23 June 2011
Thanks Mr. Anuj.
Is there any form or procedure for getting specific permission from RBI?
Whom should i contact in this regard?
Is there any form or procedure for getting specific permission from RBI?
Whom should i contact in this regard?
CA. Anuj Gupta
(Expert)
30 June 2011
There is no specific form for the same. You need to approach the Zonal RBI office in this regard.
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