Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The Reserve Bank of India (RBI) issued Circular No. 11 on June 11, 2024, allowing Scheduled Commercial Banks with AD Category-I license to open additional current accounts for trade transactions in Indian Rupees (INR). This expands on a previous circular from November 17, 2023, which permitted banks to open special current accounts exclusively for export transactions. The new provision now includes import transactions as well, offering operational flexibility to AD Category-I banks. Banks are instructed to inform their constituents about this update.
The Reserve Bank of India (RBI) issued Circular No. 11 on June 11, 2024, allowing Scheduled Commercial Banks with AD Category-I license to open additional current accounts for trade transactions in Indian Rupees (INR). This expands on a previous circular from November 17, 2023, which permitted banks to open special current accounts exclusively for export transactions. The new provision now includes import transactions as well, offering operational flexibility to AD Category-I banks. Banks are instructed to inform their constituents about this update.
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