BILL TO OVERSEAS- SHIP TO INDIA FROM INDIA

[Neeta Dharamshi]

We have delivered goods to Indian party as per order from overseas party. Billing is in the name of overseas party and ship to is Indian party. We have paid full gst amount since goods are not crossing Indian border .

Now we want to receive payment from overseas customer but bank is not allowing us to receive payment. we are ready for payment in INR too

what is way out. how to get this payment. Has anyone faced this problem? How to resolve it. whom to contact in RBI for this issue.

pls reply urgently

AI Summary

Receipt in foreign exchange: inward remittance permitted under FEMA for domestic supplies billed overseas when bank is shown applicable regulations.
Supplies made and billed to an overseas party but delivered in India are domestic transactions for GST; export treatment is unavailable if goods do not cross the border. Receipt of payment from the overseas billed party is nonetheless permissible under FEMA: banks may receive inward remittance in free foreign exchange or credit INR balances (Vostro accounts) under the Foreign Exchange Management (Manner of Receipt and Payment) Regulations and related RBI circulars, provided the prescribed purpose code and documentary justification are furnished. Practical alternatives include payment via the Indian recipient or routing through an FTWZ with a bill of export.