07 August 2014
An Agriculture product has been exported to Nepal from India. Payment received in Indian Rupees my question is whether this amount will be disallowed under export sale ? IF then what will be the implication under VAT ? Is there any interest and penalty will charge on this sale amount ?
07 August 2014
In VAT there is no condition to receive the consideration on convertible foreign currency, so there is no dis allowance of export if you have valid document to proof the export.
CAclubindia
