We are an importing company based in India. We have a branch office in Singapore. All our purchases are made from Indian head office. But all sales invoices are made from our singapore branch. So all the payments from our debtors gets collected in Singapore. we have to make payments to our creditors from Indian Head office.
I want to know whether we can transfer the funds collected from our debtos in Singapore to our Indian Head office to enable us to make payemnt to our creditos. Is this a violation according to IT or FEMA rules? Please advice.
CAclubindia
