It is permissible under FEMA for the realisation of the export proceed in INR aganist the export of services . The payment are routed through the exchange house based in dubai , kuwait , Oman and reflected in INR in fedral bank
Menu
Export proceed in inr
Replies (3)
There is no any restriction under FEMA that export realisation be received in INR but para 2.52 (a)of the Foreign Trade Poilcy 2015-20 Provides as under:
All export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realized in freely convertible currency.
Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 Permit receipt in inr for export of service
| Originally posted by : rahul | ||
 |
Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 Permit receipt in inr for export of service |  |
YES,as i said above as per FEMA there is no restriction but, Foreign Trade Policy says that :
"All export contracts and invoices shall be denominated either in freely convertible currency or Indian rupees but export proceeds shall be realized in freely convertible currency. "
Recent Threads
- Rectification of tds previous years demands
- Social TV: Where Streaming Meets Real-Time Engagem
- Schedule AL 50lakh or 1cr ?
- ¿Creen que el mercado de fertilizantes en Col
- GST - Whether Credit andDebit Note needs to be giv
- S.57(iv) under New Tax Regime (115BAC(1A)) for MAC
- S.57(iv) under New Tax Regime (115BAC(1A)) for MAC
- Tax Liability on STCG and LTCG
- Guidance Required on Returning Defective Equipment
- AI and Chartered Accountancy: How Technology is Tr
Related Threads
CAclubindia
