Mandatory compliance document verification now conditions out-of-charge clearance for imported cosmetics, drugs, and medical devices through PGA-facil...
Double taxation of turnover requires holistic verification across separately registered units and permits limited rectification of overlapping assessm...
Authorised Dealers must maintain a Foreign Exchange Risk Reserve for INR-related foreign exchange derivatives entered into with users. The reserve applies where the notional value exceeds USD two million equivalent and the derivative hedges a current account transaction in which the user purchases foreign currency against INR. It must equal 20 per cent of each contract's INR-equivalent notional amount, be deposited in cash in India with RBI daily, and remain maintained until contract termination. Splitting transactions among one or more Authorised Dealers to avoid the threshold is a violation. Daily FERR details must be reported through CIMS. Requirements apply to contracts undertaken after issuance.
Authorised Dealers must maintain a Foreign Exchange Risk Reserve for INR-related foreign exchange derivatives entered into with users. The reserve applies where the notional value exceeds USD two million equivalent and the derivative hedges a current account transaction in which the user purchases foreign currency against INR. It must equal 20 per cent of each contract's INR-equivalent notional amount, be deposited in cash in India with RBI daily, and remain maintained until contract termination. Splitting transactions among one or more Authorised Dealers to avoid the threshold is a violation. Daily FERR details must be reported through CIMS. Requirements apply to contracts undertaken after issuance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4935 
