Hello sapana,
Kindly don't mis-represent me.
The moment Chinmay wrote .....
Dear Umangjee, I am posting this for the paypal awarness. I think You better talk to your CA, and let me continue this with whom who are new or confused. "
My reply was....
Hello Chinmay, If none of the other Seller is interested in legalities for receiving International payments than you may carry on with your workshop.
All the best.
I stopped the discussion myself but still all the important posts were deleted.
Earlier, when Chinmay said that he is sending all International shipments as GIFTS that the discussion took a different turn.
Sending Items abroad as GIFTS and receiving payments is against RBI rules and is illegal.
By removing my posts you have not only deprived the New Sellers of important information but left them high and dry with incomplete information. .
best regards
Umang Midha
Kindly don't mis-represent me.
The moment Chinmay wrote .....
Dear Umangjee, I am posting this for the paypal awarness. I think You better talk to your CA, and let me continue this with whom who are new or confused. "
My reply was....
Hello Chinmay, If none of the other Seller is interested in legalities for receiving International payments than you may carry on with your workshop.
All the best.
I stopped the discussion myself but still all the important posts were deleted.
Earlier, when Chinmay said that he is sending all International shipments as GIFTS that the discussion took a different turn.
Sending Items abroad as GIFTS and receiving payments is against RBI rules and is illegal.
By removing my posts you have not only deprived the New Sellers of important information but left them high and dry with incomplete information. .
best regards
Umang Midha
Hello mahavircomputers_in1 ,
It is obligatory to inform RBI of all exports and the money received from outside the Country.
Cheques received from PaisaPay are a mixup of domestic and International sales. There is no documentary proof with the Seller about the money brought in the Country.
RBI keeps a check and ensures that goods are exported against foreign currency received in the Country.
Vice-Versa if goods are exported without advance, RBI ensures that the Exporter brings in the agreed amount of foreign currency in a stipulated time.
Most of the Sellers are receiving payment through PaisaPay PayPal and getting the money in Indian rupees. They just don't have any documentary proof that the money is for the export of goods.
What they do is, send the goods as GIFTS and manipulates the account books by showing it as some 'other income' or by showing some 'domestic Sale'.
This is totally ILLEGAL.
It's great that you have written to RBI.
Community would be anxiously awaiting your reply. .
best regards
Umang Midha
It is obligatory to inform RBI of all exports and the money received from outside the Country.
Cheques received from PaisaPay are a mixup of domestic and International sales. There is no documentary proof with the Seller about the money brought in the Country.
RBI keeps a check and ensures that goods are exported against foreign currency received in the Country.
Vice-Versa if goods are exported without advance, RBI ensures that the Exporter brings in the agreed amount of foreign currency in a stipulated time.
Most of the Sellers are receiving payment through PaisaPay PayPal and getting the money in Indian rupees. They just don't have any documentary proof that the money is for the export of goods.
What they do is, send the goods as GIFTS and manipulates the account books by showing it as some 'other income' or by showing some 'domestic Sale'.
This is totally ILLEGAL.
It's great that you have written to RBI.
Community would be anxiously awaiting your reply. .
best regards
Umang Midha
Hello Amitava,
You have said that ....
Mainnaining a record is just what is required.
I would give you an example ....
Suppose there is a thief who is un-aware about the law ..... that stealing is a Crime.
If caught .... the record of thefts committed would not be a helpful document.
Ignorance is NO EXCUSE.
I would suggest that if you know all the LAWS then maintain the records otherwise better is to destroy all records ..... ๐
ebay is just not helping the Community to gather the facts. A small gesture of ebay can make a lot of difference. .
best regards
Umang Midha
You have said that ....
Mainnaining a record is just what is required.
I would give you an example ....
Suppose there is a thief who is un-aware about the law ..... that stealing is a Crime.
If caught .... the record of thefts committed would not be a helpful document.
Ignorance is NO EXCUSE.
I would suggest that if you know all the LAWS then maintain the records otherwise better is to destroy all records ..... ๐
ebay is just not helping the Community to gather the facts. A small gesture of ebay can make a lot of difference. .
best regards
Umang Midha
Hello Sapana,
I challenge you to post those replies on this thread and if Community says that those were unkind comments and not at all beneficial to the Community ..... I will apologise the way you say.
But please .... just don't mould things. .
best regards
Umang Midha
I challenge you to post those replies on this thread and if Community says that those were unkind comments and not at all beneficial to the Community ..... I will apologise the way you say.
But please .... just don't mould things. .
best regards
Umang Midha
Dear Sapana,
I strongly agree with Umangji that all posts were beneficial to the Community.
There was no post which were distracting the workshop but all were just to guide sellers regarding the topic, If you really want to give any benefits to community then Why not allowing members to inform about some serious issue and problem( which was again related to the workshop).
Deleting post just show that eBay don't want people to know some serious issue and just only concern with its income.
Best Regards,
Deep Agarwal.
Shree Krishna Gems
I strongly agree with Umangji that all posts were beneficial to the Community.
There was no post which were distracting the workshop but all were just to guide sellers regarding the topic, If you really want to give any benefits to community then Why not allowing members to inform about some serious issue and problem( which was again related to the workshop).
Deleting post just show that eBay don't want people to know some serious issue and just only concern with its income.
Best Regards,
Deep Agarwal.
Shree Krishna Gems
Dear indconcepts,
i am totaly agree with your RBI comment.
Sending any product stating as gift is illegal .
by using " gift " word u r fooling govt , u r saving your money but nation is loosing dollars.
when we export anything to any country outside India our nation earns dollars,but when we accept payment in rupee then our nation is loosing dollars.( papyal is earning from it in form of commission)
as a developing country our country need dollars to pay dues to international forums , that's why Govt is offering many subsides to export houses so they can earn many more dollars.
when we send product stating gift is totally cheating with our nation.
FEMA is regulatory body for any export & import in India , as per FEMA rules any trade with international body is export , so when we sell to any international buyers its export .
any export should bring dollars to nation . if we received money in Indian rupee in lieu of dollars it means we are earning but our nation is loosing .
so logically its illegal to received payment in Indian rupee. without IEC codes & FIRC .
we request all international sellers please take advice of any legal experts before any export or sale.
Best regards.
--
Mahavir Computers Pvt ltd.
Mumbai
i am totaly agree with your RBI comment.
Sending any product stating as gift is illegal .
by using " gift " word u r fooling govt , u r saving your money but nation is loosing dollars.
when we export anything to any country outside India our nation earns dollars,but when we accept payment in rupee then our nation is loosing dollars.( papyal is earning from it in form of commission)
as a developing country our country need dollars to pay dues to international forums , that's why Govt is offering many subsides to export houses so they can earn many more dollars.
when we send product stating gift is totally cheating with our nation.
FEMA is regulatory body for any export & import in India , as per FEMA rules any trade with international body is export , so when we sell to any international buyers its export .
any export should bring dollars to nation . if we received money in Indian rupee in lieu of dollars it means we are earning but our nation is loosing .
so logically its illegal to received payment in Indian rupee. without IEC codes & FIRC .
we request all international sellers please take advice of any legal experts before any export or sale.
Best regards.
--
Mahavir Computers Pvt ltd.
Mumbai
