Compounding proceedings under FEMA updated: new rules supplant prior compounding rules and become effective on Gazette publication. The Central Government, under the Foreign Exchange Management Act, 1999, notifies the Foreign Exchange (Compounding Proceedings) Rules, 2024, superseding ... Summary
Compounding proceedings under FEMA updated: new rules supplant prior compounding rules and become effective on Gazette publication.
The Central Government, under the Foreign Exchange Management Act, 1999, notifies the Foreign Exchange (Compounding Proceedings) Rules, 2024, superseding the 2000 compounding rules for future matters while preserving prior actions or omissions; the rules are titled accordingly and come into force upon publication in the Official Gazette.
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