09 November 2013
Sir, A person carrying on a business of selling cash voucher in Euro currency in India. He purchases Euro from a foreign company like U Cash voucher e.g.
Mr. X sells/trf Euro electronically at some commission which is being utilized to pay foreign purchases
Mr. X purchases Euro from MNC (MNC is a foreign company having no PE in India) For purchasing Euro, Mr X has to remit the money to MNC
CAclubindia
