Inland Bill Meaning

Inland bill is the term used in the context of credit sales transaction, it refers to that bill which is drawn and made payable in India or it may be drawn on person who is a resident of India even if it is payable in a foreign country. For example if A draws bill on B (A and B both being resident of Indian origin) and B present that bill to Indian bank located in some foreign country then also it will be treated as inland bill. Some examples of inland bill are bill of exchange, cheque etc…

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