Are PaisaPay and Paypal legal payment gateways as per RBI rules.

[shriganapati111]

Dear Sir,
We wish to list our items for international selling.

Are PaisaPay and Paypal legal payment gateways [according to Reserve Bank of India] to receive payment of Exports done from India ?

As per the RBI rules exporters can accept payment from abroad only through a Bank and PaisaPay and Paypal are not Banks.

Is FIRC [foreign inward remittance certificate] issued by PaisaPay and Paypal to the exporter.

Please guide us and oblige

Regards,

J.N.Sharma

[vjstar_diamond]

Hi,

I have qeried paisa pay a lot of times about the same and received no answer. All they are willing to tell is that they do not issue a FIRC. Basically if you are looking at a release of a GR Form / PP form, well good luck to you. It is not going to happen. No bank will do the same without a FIRC.

These are practical difficulties that Paisa Pay team should address. Unluckily the response from them leaves lots to be desired. Most people believe the best way is to send undeclared thru courriers. But that is completely illegal and we would advise everyone against the same.

Cheers

eBay Store : VJ STAR Diamonds

Vijay Diamond

[gehnna]

THERE IS NO RESPONSE FROM EBAY & PAISA PAY OR PAYPAL. IT IS ILLEGALY EXPORTING USING COURIER. WE CAN ANY TIME COME INTO PROBLEM, IN FERA ACT. KEEP IN MIND WE ARE SELLING GOOD AND EXPORTING THEM ILLEGALLY AND THIS IS THE OFFENCE OF FERA & RBI LAWS. WE MUST HAVE TO FORCE PAISA-PAY FOR "FIRC"...

[musunuriss]

i want to oppen acounts with paisapay and paypal and to sall my paintting through e-bay i want the procedure for the same.i have already registered with e-bay

Musunuri subrahmanya satry

[techniwas]

HI i believe Prashant once clarified that PaisaPay being a pvt body cannot issue FIRC.

But the entire issue leaves me very much confused about international selling...

[askmanojjain]

It is surprising that there is no official response to this post.
I am having same worries... and hence not posted my product "ISOhelpline: A complete Guide to ISO 9001: 2008" for international sale.
My questions are:
1. Can we receive payment in dollar without RBI permission.
2. If we receive payment in Rupee, does RBI permission is not required.
3. What are consumer laws of that country, will they be applcable.
4. What about VAT and excise payment???


Hope some one give official response.

[amitneogi]

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