TMI BlogMODE OF CURRENCY FOR BUSINESS FROM EOU TO EOUX X X X Extracts X X X X X X X X Extracts X X X X ..... As per GST Rule, it is 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 fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r EOU to make payment 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Indian Rupee. - Reply By 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 sett ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lement to be in FC. RBI in its circular 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or in INR. However, I am of the view 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one EEFC account to another. - MODE OF CURRENCY FOR BUSINESS FROM EOU TO EOU - Query Started By: - Chandru Ramachandran Dated:- 16-11-2018 FEMA - Foreign Exchange Management - Got 3 Replies - FEMA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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