Bhalchandra R (DYM) 30 May 2014

Payment in usd from indian customer to indian supplier

Respected Sir / Madam,

We & our customer both are in India. Customer wants to give an order for the supply of material upto i\Indian port from where he will export it to other country. His Order value will be in USD. We have to bill him in USD & he will make the payment in USD only.

Can we give Invoice & receive the payment in USD? If yes what are the conditions we or our customer has to fulfill. Is there any guideline?

Thanks,

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2 Replies

malipeddi jaggarao (retired banker) 30 May 2014

In such cases, the customer might be asking you book the invoice in the name of overseas buyer. He will be only notifying party. This tentamounts to export transaction for which you should have Export-Import Code. What is the commodity and what is the amount of invoice? You can not receive USD through banking channels unless you export to overseas and you have Export-Import Code.