The Indian company incurred expenses here in India which were payed by the parent US entity using their bank credit card on behalf of Indian entity due to lack of funds in Indian Bank account-- "invoice by supplier is is raised in INR to the Indian entity since it was for Indian business just paid via credit card of US"
Now the same needs to be refunded /sent back to the US. Could somebody help out with the procedures-- purpose code to be given to the bank for transfer to be made? What would be the procedure as the amount is significant?
This is not for personal purpose or individual resident person under LRS
CAclubindia
