Export obligation removed by notification, customs duty demand invalidated; penalties under s.112 and s.114AA quashed due to inadmissible s.108 statem...
Customs officers must wear and use department-issued body-worn cameras when clearing passenger baggage, with daily secure transfer and 30-day retentio...
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Regulator amends prior guidance on merchanting trade transactions to extend the permitted period for outlay of foreign exchange from four months to six months while keeping all other conditions unchanged; the commencement and completion rules for merchanting trade remain as previously prescribed (date of first shipment/export receipt or import payment and date of last shipment/export receipt or import payment, respectively). The change is effective immediately; authorised dealer Category-I banks must notify their customers. The directions are issued under FEMA and do not affect other statutory permissions.
Regulator amends prior guidance on merchanting trade transactions to extend the permitted period for outlay of foreign exchange from four months to six months while keeping all other conditions unchanged; the commencement and completion rules for merchanting trade remain as previously prescribed (date of first shipment/export receipt or import payment and date of last shipment/export receipt or import payment, respectively). The change is effective immediately; authorised dealer Category-I banks must notify their customers. The directions are issued under FEMA and do not affect other statutory permissions.
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