discrepancy and FEMA

AB (Querist) 17 February 2009 This query is : Resolved
In LC it is clearly provided that "All banking charges outside India are to the account of Beneficiary".

The Beneficiary issues a certificate(as required in the LC) that courier charges are to the account of the issuing bank.

Is the document descrepant.

If the bank accepts the document then is it a violation of FEMA under section 3(d) of Chapter II of FEMA, 1999.

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Manish Singh (Expert) 17 February 2009
here you must see whether "banking charges" include courier charegs or not?that will solve your purpose

Abhishek (Expert) 17 February 2009
well..Mr Manish is ryt..he has a valid point.

A. A. JOSE (Expert) 17 February 2009
Mr.Manish Singh has rightly answered and I endorse the same.

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