Payment for import of goods may be made by international card or specified rupee methods under regulatory compliance. Regulation 6 permits residents to pay for imports via an international card or in rupees through the card servicing bank, subject to compliance with the Act and Foreign Trade Policy; it also authorises rupee payments for visitor boarding and travel, purchase of imported gold or silver by cheque/draft, company payments to non whole time foreign directors under corporate authorisations, and credits or rupee transfers to a SNRR account of a nonresident seller for imports, contingent on conformity with FEMA and related regulations.
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Provisions expressly mentioned in the judgment/order text.
Payment for import of goods may be made by international card or specified rupee methods under regulatory compliance.
Regulation 6 permits residents to pay for imports via an international card or in rupees through the card servicing bank, subject to compliance with the Act and Foreign Trade Policy; it also authorises rupee payments for visitor boarding and travel, purchase of imported gold or silver by cheque/draft, company payments to non whole time foreign directors under corporate authorisations, and credits or rupee transfers to a SNRR account of a nonresident seller for imports, contingent on conformity with FEMA and related regulations.
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