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. 

[YAGAY andSUN]

We can understand from the above query that you are talking about importation of goods into India from a foreign destination.

Following documents would be required, namely:-

1. Importers Exporters Code (IEC) with BIN alloted by the Customs Department.
2. Advance Authorization/EPCG Licence, if applicable
3. Commercial Invoice
4. Packing list
5. Certificate regarding quality/quantity.
6. Certificate of Origin
7. Bill of Lading/Airway bill (as the case may be)

Regards

Pradeep

[MUKUND THAKKAR]

sir,

My  question is  my customer  needs goods in india , and  he will paying  value  of  goods  in  FC.  same is possible  and  if  yes, than what documents is  require  to submitted in  bank against  receipt  of  such  FC payments.

AI Summary

Foreign currency receipt for import payments: banks require documentary evidence including IEC, invoice and bill of lading. The query concerns an import where a foreign buyer will pay in foreign currency; to realize such payment the supplier/importer must present standard import and shipping documents to the bank, notably Importer Exporter Code with BIN, Advance Authorization/EPCG if applicable, commercial invoice, packing list, quality/quantity certificate, certificate of origin, and bill of lading or airway bill.