https://www.taxtmi.com/forum/issue?id=120921 Receipt of foreign currency from an overseas buyer for machinery supplied within India may be permissible under FEMA and RBI if supported by a genuine contract, routed through an Authorised Dealer bank, and backed by proper remittance documentation. The overseas party should be the contractual buyer, the Indian party the consignee or end user, and the foreign currency invoice should match the domestic supply. Since the machinery remains in India, the transaction is generally treated as a domestic taxable supply, not an export, for customs or GST purposes. en-us Fri, 15 May 2026 16:12:40 +0530 Thu, 21 May 2026 12:23:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120921 Receipt of foreign currency from an overseas buyer for machinery supplied within India may be permissible under FEMA and RBI if supported by a genuine contract, routed through an Authorised Dealer bank, and backed by proper remittance documentation. The overseas party should be the contractual buyer, the Indian party the consignee or end user, and the foreign currency invoice should match the domestic supply. Since the machinery remains in India, the transaction is generally treated as a domestic taxable supply, not an export, for customs or GST purposes. Discussion-Forum FEMA Fri, 15 May 2026 16:12:40 +0530 https://www.taxtmi.com/forum/issue?id=120921