Query related to bank transaction
This query is : Resolved
hetal sangoi
(Querist)
09 December 2011
how forgin import payment is done?
fr0m the point of audit can u guide me?
fr0m the point of audit can u guide me?
RAMESH KUMAR VERMA
(Expert)
09 December 2011
THROUGH EEFC ACCOUNT .
FOR THE POINT OF AUDIT:
ASSUME THAT PAYMENT IS FOR 1000 USD PLEASE CHECK IT FROM LETTER OF CREDIT AND FIRC, AS WELL AS EXPORT IMPORT SALES AND VARIOUS EMAIL SENDING AND RECEIVING BETWEEN CONSIGNEE AND CONSIGNOR etc
FOR THE POINT OF AUDIT:
ASSUME THAT PAYMENT IS FOR 1000 USD PLEASE CHECK IT FROM LETTER OF CREDIT AND FIRC, AS WELL AS EXPORT IMPORT SALES AND VARIOUS EMAIL SENDING AND RECEIVING BETWEEN CONSIGNEE AND CONSIGNOR etc
RAMESH KUMAR VERMA
(Expert)
09 December 2011
ANY QUERY, PLEASE ASK ,
REGARDS,
REGARDS,
hetal sangoi
(Querist)
09 December 2011
what is full form of EEFC & FIRC?
RAMESH KUMAR VERMA
(Expert)
10 December 2011
FIRC : FOREIGN INWARD REMITTANCE CERTIFICATE , ISSUED WHEN THE PAYMENT SEND BY PURCHASER TO SELLER.
Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer i.e. a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.
Regards,
Exchange Earners' Foreign Currency Account (EEFC) is an account maintained in foreign currency with an Authorised Dealer i.e. a bank dealing in foreign exchange. It is a facility provided to the foreign exchange earners, including exporters, to credit 100 per cent of their foreign exchange earnings to the account, so that the account holders do not have to convert foreign exchange into Rupees and vice versa, thereby minimizing the transaction costs.
Regards,
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