Dear All
Our Company AB is into trading of various goods. Recently , We have got an order to suppy a Product to Japan. The product is only available in Canada. AB is incorporated in India
AB has recived in Inda advance against sale in USD from Buyer. AB Now placed the order from a Supplier from Canada to delivered goods directly in Japan. AB is going to pay the supplier from India utilising the advance recieved
What are the implication under FEMA and Custom / Banks on AB
Warm Regrds
Now AB is service provider and receiving commission in India -ST is applicable and TDS has to be bourned by AB in India.
Further advise may be given based on the documentation of all 3 company nature of tanscations
What is the role of AB in this transaction
AB is buying goods on prinbcipal to principal basis. There is separate purchase contract and sale contract. Hence it is a trading profit
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Bharat Shah & Associates
Mumbai
CA Inter
View Details
Hema Yashwanth & Associates
Chennai
B.Com
View Details
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
CCI
Pro
CAclubindia
