TaxTMI 
TaxTMI 
TaxTMI 
MODE OF CURRENCY FOR BUSINESS FROM EOU TO EOU
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....ODE OF CURRENCY FOR BUSINESS FROM EOU TO EOU<br> Query (Issue) Started By: - Chandru Ramachandran Dated:- 16-11-2018 Last Reply Date:- 21-11-2018 FEMA<br>Got 3 Replies<br>FEMA<br>As per GST Rule, it i....
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....s understood that all transactions between EOU to EOU is taxable and such business would be treated on par with DTA. As regards payment, I need to know whether it is mandatory for EOU to make payment ....
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....to other EOU only in terms of foreign currency or it can be paid in Indian Rupee. Please clarify. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: In my view it can be paid in Indian Rupee. Reply By ....
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....Ganeshan Kalyani: The Reply: I am also of the view that payment can be done in INR. Reply By Ramaswamy S: The Reply: The law does not specify that EOU to EOU settlement to be in FC. RBI in its circ....
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....ular has clarified that an EOU can pay to their EOU suppliers from EEFC account . It is not mandated. The payment from an EOU to another EOU can be made either in FC or in INR. However, I am of the v....
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....iew that any transaction within India should be in INR only. FC is not earned by the supplier EOU when the FC earned by the recipient EOU when it is a transfer from one EEFC account to another.<br> Di....
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....scussion Forum - Knowledge Sharing ....