TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Permits Banks to Set-Off Export Receivables Against Import Payables Under FEMA, Excludes ACU Countries.</h1> The Reserve Bank of India (RBI) has delegated the authority to Authorised Dealer Category - I banks to handle the 'set-off' of export receivables against import payables. This liberalization allows exporters to offset their export receivables with import payables involving the same overseas buyer and supplier, provided certain conditions are met. These include compliance with the Foreign Trade Policy, submission of necessary documents, and ensuring both transactions are reported separately. Transactions with ACU countries are excluded from this arrangement. The circular is issued under the Foreign Exchange Management Act, 1999, and banks are instructed to inform their customers accordingly.
TaxTMI 
TaxTMI 
