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Issue ID : 106250
- 0 -

$ 1million Foreign Remittance per project w/o RBI approval is PER PAYEE or not

Date 20 Nov 2013
Replies1 Answers
Views 1944 Views
Asked By
Hi all, I have a minor confusion.

RBI approval required for Remittances exceeding US$ 10,000,000 per project for any consultancy services in respect of infrastructure projects and US$ 1,000,000 per project, for other consultancy
services procured from outside India.
 
My silly question is, limit is PER PAYEE or for all payee's taken together.
 
thanks in advance.
 
Pawan Sehrawat
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Replied on Nov 12, 2015
1.

Whatever it may be, it is related to per project.

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