Non Commercial Invoice- payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2010
My client has imported goods with a non-commercial invoice from its parent company.
Will they have any problems while making payment for the purchase?
Will they have any problems while making payment for the purchase?
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 November 2010
Let me rephrase my question:
In case an Indian Company purchases goods from foreign parent company, the payment can be made thru normal banking channels.
If in case the invoice says it is for non-commercial product and is used in production, will there be any problems at the time of making payment? also from Excise/RBI perspective will there be any issues?
In case an Indian Company purchases goods from foreign parent company, the payment can be made thru normal banking channels.
If in case the invoice says it is for non-commercial product and is used in production, will there be any problems at the time of making payment? also from Excise/RBI perspective will there be any issues?
30 November 2010
The transaction is required to be explained to the Bank for making payment. They will easily agree for amount equal to the value declared in Bill of entry.
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