Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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AD Category-I banks may open Special Rupee Vostro Accounts for their overseas branches or banks resident outside India. SRVAs provide an additional INR-based arrangement for invoicing, payment and settlement of cross-border exports and imports, and may also settle permissible FEMA current and capital account transactions. Banks maintaining SRVAs may open dedicated additional current accounts for exporters or importers for trade settlement. SRVAs may receive inward remittances, transfers from repatriable INR accounts and proceeds of permissible transactions; investments of balances in debt instruments remain subject to the applicable RBI directions. FEMA documentation and reporting requirements continue, and SRVA details may be updated in the FEDAI directory. The consolidated instructions take immediate effect and supersede specified prior circulars.
AD Category-I banks may open Special Rupee Vostro Accounts for their overseas branches or banks resident outside India. SRVAs provide an additional INR-based arrangement for invoicing, payment and settlement of cross-border exports and imports, and may also settle permissible FEMA current and capital account transactions. Banks maintaining SRVAs may open dedicated additional current accounts for exporters or importers for trade settlement. SRVAs may receive inward remittances, transfers from repatriable INR accounts and proceeds of permissible transactions; investments of balances in debt instruments remain subject to the applicable RBI directions. FEMA documentation and reporting requirements continue, and SRVA details may be updated in the FEDAI directory. The consolidated instructions take immediate effect and supersede specified prior circulars.
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