We have purchase from SEZ Unit under advance license scheme .
my query is whether the transaction can made in INR Or we need to do payments in USD currencies to SEZ Unit to fulfill license compliance. kindly advise.
When purchasing from a Special Economic Zone (SEZ) unit under the Advance Authorization (Advance License) scheme, the payment can be made in Indian Rupees (INR) or any freely convertible foreign currency, such as USD. There is no specific requirement to make payments exclusively in USD to fulfill license compliance12.
If you have any more questions or need further clarification, feel free to ask! 😊
CAclubindia
