Payment receive in us dollar and supply in india
This query is : Resolved
09 April 2015
Dear Sir/madam,
We received an advance payment of USD 1000 from one of our client located at USA. They asked us to supply material in two parts in two locations. $600 value of material to be supplied to South Africa and $ 400 value of material in India.
South Africa distribution is OK no issue.
But how we supply products in India against Foreign Currency payment receipt.
Is any regulatory issue? If the law allows, which currency we have to use for India transaction?
How we manage the BRC (Bank Realization Certificate) for the Domestic supply.
We received an advance payment of USD 1000 from one of our client located at USA. They asked us to supply material in two parts in two locations. $600 value of material to be supplied to South Africa and $ 400 value of material in India.
South Africa distribution is OK no issue.
But how we supply products in India against Foreign Currency payment receipt.
Is any regulatory issue? If the law allows, which currency we have to use for India transaction?
How we manage the BRC (Bank Realization Certificate) for the Domestic supply.
09 April 2015
There will not be any regulatory issue. Regulatory issue is only for receiving rupee payment for exports.
Your client is in USA, so he will be able to make payment only in US dollars.
Your client is in USA, so he will be able to make payment only in US dollars.
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