RBI APPROVAL , FEMA

[VISHNUDAS NAIK PARSAKAR]

IF GOODS ARE SUPPLIED TO COMPANY IN INDIA AND BILLING IS DONE TO COMPANY IN UAE. REMITANCE WILL BE RECEIVED IN USD FROM UAE DO WE NEED TO TAKE PRIOR APPROVAL FROM RBI FOR SUCH CASES. IF NO PLEASE GIVE REFERNECE TO CIRCULAR/NOTIFICATION ETC.

Posts / Replies

[Surender Gupta]

There is no specific provision about this in accordance with my knowledge. But, you must provide the details to bank before getting the remittance to avoid the allegation of illegal money.