payment from over seas buyer

[MUKUND THAKKAR]

one  company  want  need  the material  in india, and  company will paying  the material value in US $. this  type  of  transcation which documents  is  require  from buyer,

for   getting   it  the  foreigen currency which documents  need to submit with the  to bank by supplier. 

AI Summary

Guidance Sought on Documentation for Receiving Foreign Currency Payments for Imported Goods in India, Including IEC and BIN. A company in India is seeking guidance on the documentation required for receiving foreign currency payments from an overseas buyer for goods imported into India. The necessary documents include the Importers Exporters Code (IEC) with a BIN from the Customs Department, Advance Authorization/EPCG Licence if applicable, a commercial invoice, a packing list, quality/quantity certificates, a certificate of origin, and a bill of lading or airway bill. The discussion also addresses whether it is possible for the customer to pay in foreign currency and the required documentation for bank submission.