Received payment in Indian rupees
Post 1 of 2
Hi!
I m an Indian Exporter. A customer in Singapore remitted money in Indian Rupees in my a/c by T/T. I had provided him Proforma Invoice in Singapore dollars for payment by T/T. Now what should I do? Should i refuse to ship the material. Can I invoice in Indian Rupees? Please advise.
Thank you
I m an Indian Exporter. A customer in Singapore remitted money in Indian Rupees in my a/c by T/T. I had provided him Proforma Invoice in Singapore dollars for payment by T/T. Now what should I do? Should i refuse to ship the material. Can I invoice in Indian Rupees? Please advise.
Thank you
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25 Aug 2009 23:32
Post 2 of 2
As you have received your payment...irrespective of the currency...you have to honour your commitment and ship the goods.
As far as Invoicing goes/concerns...you can raise an Invoice in INR + VAT, but if you can prove to the 'Sales Tax' authorities that goods have been shipped abroad, you may claim the benifits of VAT refunded.
As far as Invoicing goes/concerns...you can raise an Invoice in INR + VAT, but if you can prove to the 'Sales Tax' authorities that goods have been shipped abroad, you may claim the benifits of VAT refunded.
26 Aug 2009 09:46
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