Remittance from forign buyer for goods.
This query is : Resolved
05 March 2009
We sell our products through website. I was wondring to know that if a buyer send remittance in our bank account for goods and takes hand delivery of goods either himself or his knowing person.
1] Is it legal?
2] Whether it's an export sale or local?
3] Should we submit documents in bank for this type of transaction?
4] RBI/Exim rules for that type of transaction?
Your suggestion/advices are will be appreciated.
1] Is it legal?
2] Whether it's an export sale or local?
3] Should we submit documents in bank for this type of transaction?
4] RBI/Exim rules for that type of transaction?
Your suggestion/advices are will be appreciated.
06 March 2009
IT IS LEGAL
IT IS NOT EXPORT SALE BECAUSE SALE WHICH OCASSIONS MOVEMENT OF GOODS ACROSS CUTOM FRONTIERS OF INDIA IS EXPORT SALE
IT IS NOT EXPORT SALE BECAUSE SALE WHICH OCASSIONS MOVEMENT OF GOODS ACROSS CUTOM FRONTIERS OF INDIA IS EXPORT SALE
06 March 2009
Thanks, please let me also know should we have to submit invoice into bank to take BRC for that transaction? Because we got payment in USD.
30 June 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
