Payment to foreign related parties

[Gourav Arora]

expert.

Is their any time restriction with in which indian party required to pay to there foreign related party after credited in the books of accounts..

Regards

AI Summary

Indian Payment Deadlines: Six Months to a Year for Foreign Transactions; RBI Guidelines on Delayed Import Dues Clarified. A discussion on the forum addresses the time limit for Indian parties to pay foreign related parties after crediting amounts in their accounts. The law mandates payment within six months or a year, depending on the situation, with valid reasons required for any delays. Interest should not be involved in delayed payments. The forum further clarifies that the same time limit applies to the import of technical services, referencing specific RBI guidelines. These guidelines allow for settlement of delayed import dues under certain conditions and outline the handling of interest on import bills.