FEMA

Querist : Anonymous (Querist) 19 November 2009 This query is : Resolved
Hi!! This is in regard to FEMA regulations. A company entered into an agreement with a group company to pay 5% royalty on sales minus "THE COST OF STANDARD BOUGHT OUT COMPONENT AND LANDED COST INCLUDING OCEAN FREIGHT, INSURANCE, CUSTOM DUTY OF THE IMPORTED COMPONENTS IRRESPECTIVE OF THE SOURCE OF PROCUREMENT."

Now,
1. As per FEMA should the raw material cost be deducted whther it is imported or not?
2. If only imported raw material is deducted and not the local raw material purchased then what are the consequencies?

Thanks in Advance.

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Gulshan Tanwar (Expert) 14 January 2011
No one answered the query, pity!!! I am not having time these days will be back to LCI after sometime and then only can answer the same.

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