Transaction in foreign currency between 2 domestics company.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2015
TWO PARY ARE AGREED TRANSACTION WITH FOREIGN CURRENCY .
"A" PARTY HAVE PURCHASE GOODS 100$ FROM "C"AND EXPORT TO "Z" (OVERSEAS BUYER) FOR 120$ AS ON AGREED TERMS "C" HAVE TO 100$ TO A , COULD IS POSSIBLE ?
PLEASE SUGGEST ME
CAN BANK WILL AGREE TO RELEASE FUND AGAINST PURCHASE BILL WITHIN FOREIGN CURRENCY .
"A" PARTY HAVE PURCHASE GOODS 100$ FROM "C"AND EXPORT TO "Z" (OVERSEAS BUYER) FOR 120$ AS ON AGREED TERMS "C" HAVE TO 100$ TO A , COULD IS POSSIBLE ?
PLEASE SUGGEST ME
CAN BANK WILL AGREE TO RELEASE FUND AGAINST PURCHASE BILL WITHIN FOREIGN CURRENCY .
CA R SEETHARAMAN
(Expert)
24 September 2015
No only Indian currency equivalent of 100$ can be released.
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