Receipt of payment in indian currency against exports
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2015
Sir,
I want to clarify that my Client want to make exports to Dubai and the company to whom the exports is going to make has its one sister concern company in India and promoters of Indian co. and Dubai co. are same but names are different. The Importing Company want to make the payment in Indian currency to my client through their Indian Sister Concern for the exports made to their Dubai company and I want to know whether it involves any litigations as per FEMA Act or in any other act or is this transaction is valid in all respects. Can he receive payment in Indian Currency for Exports made to Dubai. If yes what are the required documentation.
I want to clarify that my Client want to make exports to Dubai and the company to whom the exports is going to make has its one sister concern company in India and promoters of Indian co. and Dubai co. are same but names are different. The Importing Company want to make the payment in Indian currency to my client through their Indian Sister Concern for the exports made to their Dubai company and I want to know whether it involves any litigations as per FEMA Act or in any other act or is this transaction is valid in all respects. Can he receive payment in Indian Currency for Exports made to Dubai. If yes what are the required documentation.
RAMESH KUMAR VERMA
(Expert)
05 October 2015
https://www.caclubindia.com/experts/advance-licence-obligation-discharge-2190799.asp
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