One client wants to import goods from netherlands in Indian Currency. The Invoice will be in Indian Currency. Please let me know is this possible. What are the legal and practical issues involved?
3 Replies
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 10 June 2009
The currency of the invoice is totally a matter of choice between the exporter and the importer. There are no legal consequences involved. If the invoice is in Foreign Currency, the same is converted into INR on the date of bill of entry. However, if the invoice is already in INR, there is no need to convert the same. Regarding practical consequences, as i said, it is as matter of choice between the parties.
Mahesh
(Accounting Manager)
(22 Points)
Replied 27 January 2012
Hi,
One of our US vendor who provides services to Indian company wants to raise an invoice in Indian currency. Can it be done?
What will be the difference if the invoice is raised in USD or INR?
Please advise
RAMESH KUMAR VERMA
( CS PURSUING )
(43853 Points)
Replied 02 February 2012
for more information read link:
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/FRTH210711.pdf
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