Clarification on FDI in Tobacco or Tobacco substitutes - Prohibition applies only to manufacturing of the tobacco products and not on other activities relating to these products including wholesale cash and carry, retail trading etc.
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
FDI restriction in tobacco manufacturing clarified; non manufacturing activities remain subject to sectoral FDI policy. FDI is prohibited only in the manufacturing of specified tobacco and tobacco-substitute products under Annex A of Schedule I to the FEMA Regulations; the prohibition does not extend to other activities such as wholesale cash-and-carry or retail trading, which are governed by sectoral FDI policy and Schedule I of the FEMA Regulations. AD Category-I banks should inform their constituents; directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to other required permissions.
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.
FDI restriction in tobacco manufacturing clarified; non manufacturing activities remain subject to sectoral FDI policy.
FDI is prohibited only in the manufacturing of specified tobacco and tobacco-substitute products under Annex A of Schedule I to the FEMA Regulations; the prohibition does not extend to other activities such as wholesale cash-and-carry or retail trading, which are governed by sectoral FDI policy and Schedule I of the FEMA Regulations. AD Category-I banks should inform their constituents; directions are issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act and are without prejudice to other required permissions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
