Rbi reporting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2012
Hi all, A company has imported Capital Equipment from foreign supplier and decided to pay well within 3 years of receipt. (But the original payment terms of payment was 60 days, but after discussion with the supplier, Is there any mandate/procedure to report the same to RBI through our Authorized Dealer ? Members' View solicited.. Regards Kiran
Amol S Joglekar
(Expert)
14 September 2012
The permission is generally granted by the RBI for such rupee convertibility transaction. No separate permission is required to be taken.
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