13 April 2020
We are 100% EOU, exported material for job-work & return (not a sale transaction). Now due to Covid-19 we are unable to bring back the material to India, instead we export directly to customer in another country. We need to pay to the job-worker to release the material. We are paying as A2 payment with TDS, but bank is not releasing payment saying material is not coming back to India.
What is the way-out? Banks are not allowed to pay if material is not coming back to India? How to handle the case?
CAclubindia
