Remittance from forign buyer for goods.
This query is : Resolved
Mahesh Agarwal
(Querist)
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.
CA. MITHUN KHATRY
(Expert)
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
Mahesh Agarwal
(Querist)
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.
Dhirajlal Rambhia
(Expert)
30 June 2023
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