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

[Guest]

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

[DR.MARIAPPAN GOVINDARAJAN]

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

AI Summary

Per project remittance threshold applies - RBI approval required when project-level consultancy payments exceed specified regulatory limits. The regulatory remittance thresholds for overseas consultancy payments apply on a per project basis: the aggregate of consultancy payments related to a single project is measured against the ceiling rather than each individual payee being separately assessed.