Can Import Invoice be in Indian Currency

One client wants to import goods from netherlands in Indian Currency.  The Invoice will be in Indian Currency. Please let me know is this possible. What are the legal and practical issues involved?

Replies (3)

 The currency of the invoice is totally a matter of choice between the exporter and the importer. There are no legal consequences involved. If the invoice is in Foreign Currency, the same is converted into INR on the date of bill of entry. However, if the invoice is already in INR, there is no need to convert the same. Regarding practical consequences, as i said, it is as matter of choice between the parties.

 

Hi,

One of our US vendor who provides services to Indian company wants to raise an invoice in Indian currency. Can it be done?

What will be the difference if the invoice is raised in USD or INR?

Please advise

 

for more information read link:

https://rbidocs.rbi.org.in/rdocs/notification/PDFs/FRTH210711.pdf

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