Fema

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2011 Dear All,

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.

Thanks

VISHRUT

VISHRUT (Expert)
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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.

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