Hello Everyone,
I have a query regarding export of services when payment is made through NRE Account.
Case:
My client(Service Receiver) is located ouside India and Service Provider is located in India. The services are received and utilised outside India. The problem lies that the Service Receiver Company wants to make the payment through NRE Account of the president to the service provider company located in India. The company will make an agreement with the president and show in the books of account that it had taken loan from president.
My question is that after making payment from NRE account will the transaction be eligible for exemption?
CAclubindia
