Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
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.
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