Can we use personnel credit card for company purchase?

This query is : Resolved

syed (Querist)
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30 November 2010 Dear Sir's,

I am running a propritorship firm and I use my credit card extensively for internation payments by paypal and the equipments are imported duty paid in to India.

I have shown my credit card in my book of accounts, I would like to know the following:

a) Is the use of credit card is allowed for International payments or not,Mostly I use paypal gateway for all my outward remmittence?
b) When we make payment by Bank we submit a copy BOE to banker as a confirmation/proof of good imported, What is the procedure for for filing of BOE in case of payment by Credit card?

Kindly clarify the same ASAP

Thanks and Regards.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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10 March 2011 a)Yes,but ideally you should use the bank option.Lately there has been some restriction on paypal by RBI.

b.)No,but if paid through normal banking channel you should do the same .

Anuj
9810106211

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syed

syed (Querist)
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17 March 2011 Many thanks for your reply.

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