Hi
We are importing raw material from our parent company they have plant at Germany & USA
Import starts from year 2000.
We missed to pay some invoice from year 2006 to 2018 due to missing of BOE Exchange control copy (Before AD code is mandatory in BOE) for USA around USD 34,500 (118 Nos of Invoices) & Germany around Euro 42,000 (18 Nos of Invoices).
Every month we are charging service invoice to our parent company USA for USD 12,000.
Now is it possible to adjust our monthly receivable (USD 12,000) against our payment to USA ?
Our parent company USA is ready to pay our outstanding amount to Germany on behalf off us and later they will charge the value to us or adjust our monthly service receivable (USD 12,000).
Is this transaction is acceptable by RBI/Transfer Pricing ?
Kindly suggest
CAclubindia
