https://www.taxtmi.com/article/detailed?id=13407 Barter trade is not expressly prohibited under Indian Customs law, the FTP or the Foreign Trade (Development and Regulation) Act, but cross border barter is subject to customs duties, valuation, import/export procedures, licensing and applicable taxes. International barter engages RBI/FEMA rules: set off and netting of export receivables against import payables may be allowed under conditions enforced by AD Category I banks (KYC/AML/CFT checks, exclusion of transactions under investigation, separate reporting in mandated systems, and legally enforceable agreements). Proper documentation, bank supervision and exchange control reporting are essential. en-us Mon, 27 Jan 2025 10:05:21 +0530 Mon, 27 Jan 2025 10:05:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13407 Barter trade is not expressly prohibited under Indian Customs law, the FTP or the Foreign Trade (Development and Regulation) Act, but cross border barter is subject to customs duties, valuation, import/export procedures, licensing and applicable taxes. International barter engages RBI/FEMA rules: set off and netting of export receivables against import payables may be allowed under conditions enforced by AD Category I banks (KYC/AML/CFT checks, exclusion of transactions under investigation, separate reporting in mandated systems, and legally enforceable agreements). Proper documentation, bank supervision and exchange control reporting are essential. Articles Customs - Import - Export - SEZ Mon, 27 Jan 2025 10:05:21 +0530 https://www.taxtmi.com/article/detailed?id=13407