Dear Amarjit Batra,
Hello,
Kindly refer to your reply at
Post No.51
We know very well that ebay has the best experts in every department and can't go wrong as far as laws of the country are concerned.
Your one line reply ....
PaisaPay service is in full compliance with the foreign exchange laws in the country
..... may not be of much help to novice Sellers who are interested in International trade at individual level.
You may have protected yourself from all directions by being just as a service provider but a Seller can land himself in trouble because of incomplete knowledge.
A Seller has to inform RBI in a stipulated time that payments have been received against goods exported.
If the foreign currency is received in advance then also one has to inform RBI that the goods worth of that amount has been exported.
Since PaisaPay payments are received in Rupees
(which may be a clubbed payment of domestic and International sale ), what documents do you provide to the Seller which certifies that ebay has received the foriegn currency on Seller's behalf ?
If you don't provide any such document then what's the correct procedure the Seller has to follow to comply with RBI rules ? How do we prove to RBI that foriegn currency has been received ?
Hope you will give an elaborate reply.
best regards
Umang Midha
.
.
best regards
Umang Midha