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of <h1>Consolidated Guidelines for Import of Goods and Services in India under FEMA 1999: Key Rules for Banks and Traders.</h1> The Master Circular on Import of Goods and Services, updated to June 18, 2015, consolidates guidelines for the import of goods and services into India under the Foreign Exchange Management Act, 1999. It provides comprehensive instructions for authorized dealer banks on handling import transactions, including general and operational guidelines, advance remittances, evidence of import, and specific provisions for importing goods such as gold, precious metals, and aviation equipment. The circular also includes rules for merchanting trade, third-party payments, and import factoring, ensuring compliance with existing foreign exchange regulations and trade policies.
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