Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Automated export obligation extensions remove separate regional applications after committee approval for Advance Authorisation and EPCG authorisation...
FTP 2023 now permits export contracts and invoices, except those involving Asian Clearing Union (ACU) member countries, to be denominated and export proceeds realised in foreign currency or Indian rupees. ACU-country contracts, excluding Nepal and Bhutan, must use an ACU-determined currency or follow RBI directions; Nepal and Bhutan contracts must be denominated and settled in Indian rupees or as directed by RBI. Exports to countries other than Nepal and Bhutan whose proceeds are received in Indian rupees through specified banking channels qualify for FTP benefits, incentives and export-obligation fulfilment on par with foreign-currency realisations. Iran exports remain subject to FTP compliance requirements.
FTP 2023 now permits export contracts and invoices, except those involving Asian Clearing Union (ACU) member countries, to be denominated and export proceeds realised in foreign currency or Indian rupees. ACU-country contracts, excluding Nepal and Bhutan, must use an ACU-determined currency or follow RBI directions; Nepal and Bhutan contracts must be denominated and settled in Indian rupees or as directed by RBI. Exports to countries other than Nepal and Bhutan whose proceeds are received in Indian rupees through specified banking channels qualify for FTP benefits, incentives and export-obligation fulfilment on par with foreign-currency realisations. Iran exports remain subject to FTP compliance requirements.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
