Prior approval requirement for specified current account remittances limits certain cross-border payments pending Central Government consent. Certain current account remittances require prior Central Government approval under Schedule II of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Covered transactions include cultural tours, specified foreign advertising by State governments/PSUs, freight remittances for chartered vessels, c.i.f. import payments by government departments/PSUs, remittances by multi-modal transport operators (subject to DG Shipping registration), transponder hiring charges (with ministry-specific approvals), container detention charges above prescribed rates, prize money/sponsorship remittances by non-official sports bodies, and P&I Club membership remittances.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prior approval requirement for specified current account remittances limits certain cross-border payments pending Central Government consent.
Certain current account remittances require prior Central Government approval under Schedule II of the Foreign Exchange Management (Current Account Transactions) Rules, 2000. Covered transactions include cultural tours, specified foreign advertising by State governments/PSUs, freight remittances for chartered vessels, c.i.f. import payments by government departments/PSUs, remittances by multi-modal transport operators (subject to DG Shipping registration), transponder hiring charges (with ministry-specific approvals), container detention charges above prescribed rates, prize money/sponsorship remittances by non-official sports bodies, and P&I Club membership remittances.
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