Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate reman...
Revisional jurisdiction over export quota premium deductions requires both error and Revenue prejudice; a permissible assessment view cannot be displa...
The RBI issued instructions on Money Changing Activities u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. FFMCs/non-bank ADs Category-II must maintain a 75% ratio between foreign currency notes sold and purchased quarterly starting July 1, 2024. They must submit annual audited balance sheets with NOF certification by Oct 31. Compliance is mandatory and non-compliance may lead to penalties. The FED Master Direction No.3 is being updated to reflect these changes.
The RBI issued instructions on Money Changing Activities u/s 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. FFMCs/non-bank ADs Category-II must maintain a 75% ratio between foreign currency notes sold and purchased quarterly starting July 1, 2024. They must submit annual audited balance sheets with NOF certification by Oct 31. Compliance is mandatory and non-compliance may lead to penalties. The FED Master Direction No.3 is being updated to reflect these changes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
