Fema act

This query is : Resolved

Ashutosh (Querist)
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04 January 2012 Can we adjust an debit note against an import foreign payment..?

My Colleague says it is not permissible as per FEMA act..!!!

Is it true and could any one pls. provide backup for that.?

pls. clear soon as it is very urgent matter.

Vishal D Shah

Vishal D Shah (Expert)
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06 January 2012 Yes. Import payment has to be made in foreign exchange within time limits.

Also funds must be received separately against your debit note.

Vishal D Shah

Vishal D Shah (Expert)
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06 January 2012 Yes. Import payment has to be made in foreign exchange within time limits.

Also funds must be received separately against your debit note.

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Vishal D Shah

Vishal D Shah (Expert)
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06 January 2012 Yes. Import payment has to be made in foreign exchange within time limits.

Also funds must be received separately against your debit note.