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Which rate the import payment will be taken up

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Reference no: EM132931203

Problem 1: India Medtronic imports certain medical instruments from Germany and sells them to some of the leading hospitals of India. Import bills are in EUR. Local sales invoice is done in INR. One equipment with a value of EUR 2 mn is sold to Apollo Hospital. EUR/INR is quoted by the bank as 88.80/88.82. (88.80/82). Which of these rates will be picked up by India Medtronic to invoice Apollo Hospital?

Problem 2: L & T Ltd has ordered one scientific equipment from Switzerland for one of their projects in Bangladesh. USD/CHF is quoted at 0.9030/0.9035 (0.9030/35). L & T will be paying the Swiss seller from its USD account with Citi Bank, Mumbai. At which rate this import payment will be taken up?

Problem 3: In the above transaction, the consignment will not land in India. It will directly reach the Bangladesh worksite. This transaction will be treated as: a. High sea sales b. Merchanting trade

Reference no: EM132931203

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