A. Can a proprietorship firm import goods (using his firm's Name IEC code and GST number) and using credit card (which is issued by HDFC bank to his individual name through international supplier (e-commerce platform).
These goods attracts IGST which are claimed back by business and sold to another parties in India. As goods are sold further.
B. Is it okay as in this route bank is bypassed for foreign remittance ?
C.To whom should BOE of imported goods to be submitted ? As bank has not transferred the amount so bank is not accepting this BOE.
Reason for this payment is amount is less than USD 1000 and supplier over e-commerce platform would never share bank details to wire the amount/Also e-commerce never allow to share direct contact information.
Request you to help me to find out the solution for the same.
CAclubindia
