Fema
This query is : Resolved
25 May 2009
can a company net off the commission receivables against the amount payable for imports made and effect the transfer for the net amount?
26 May 2009
Its not wise to do so.
29 May 2009
Hi .....
if in case x co imports goods from y foreign co, and also books order in india on behalf of y co for which commission is receivable by x co. in such a case can x co. net off the commission receivables against the import payment to be made. is this action valid. Or is there any specific application is to be made to RBI its approval ?
if in case x co imports goods from y foreign co, and also books order in india on behalf of y co for which commission is receivable by x co. in such a case can x co. net off the commission receivables against the import payment to be made. is this action valid. Or is there any specific application is to be made to RBI its approval ?
16 May 2011
Yes RBI approval is needed in the present case.
Anuj
0-9810106211
Anuj
0-9810106211
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Applicability of Ind As to associate of associate
- Confusion around Form 26QB fields
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company registration : Rental agreement or NOC?
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
