A Foreign resident purchased goods from Indian seller by sending $ as consideration for the goods. He sold the same goods to another Indian purchaser without moving goods to foreign.
I want to know what will be the consequence in FEMA & RBI compliance.
20 September 2011
There will be FEMA compliance till the foreign currency remittance and inward only wheere one willl be require to seek approval of RBI.
CAclubindia
