21 May 2008
This year I have come across sales invoices raised by Indian firm to another Indian Firm in foreign currency - mostly in US $ - in respect of sales/services made during the F.Y. 2007-08. Please note that sellers and buyers are not located in SEZ or EOU or STPI. Both are from DTA territory.
I have gone through some materials under VAT and FEMA but no where I found information pertaining to this - that Indian firm can raise sales/service invoice other than in Indian Rupees.
Please give information with supporting materal from any law/regulations governing such methods
CAclubindia
