Remittance limit liberalisation for consultancy services allows higher foreign payments for infrastructure projects subject to bank verification of bonafides. The circular authorises Authorised Dealer Category I banks to permit higher per project remittances for consultancy services procured from outside India by Indian companies executing defined infrastructure projects, after verifying the bonafides of the transaction; the infrastructure sectors covered are listed, while remittances in other cases remain subject to the existing per project threshold and formal amendments to the Current Account Transactions Rules will be notified separately.
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Provisions expressly mentioned in the judgment/order text.
Remittance limit liberalisation for consultancy services allows higher foreign payments for infrastructure projects subject to bank verification of bonafides.
The circular authorises Authorised Dealer Category I banks to permit higher per project remittances for consultancy services procured from outside India by Indian companies executing defined infrastructure projects, after verifying the bonafides of the transaction; the infrastructure sectors covered are listed, while remittances in other cases remain subject to the existing per project threshold and formal amendments to the Current Account Transactions Rules will be notified separately.
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