Appeal allowed: conversion treated as manufacture, entitlement under Notification No.56/2002-CE and CENVAT credits reinstated, including returned and ...
An amendment to the borrowing-and-lending regulations permits authorised dealer banks to extend loans denominated in Indian rupees to persons resident in Bhutan, Nepal or Sri Lanka, including banks in those jurisdictions, specifically for cross-border trade transactions. The change inserts a new clause into the principal regulations and takes effect upon publication in the official gazette, enacted by the central banking authority under its statutory powers to modify foreign exchange rules.
An amendment to the borrowing-and-lending regulations permits authorised dealer banks to extend loans denominated in Indian rupees to persons resident in Bhutan, Nepal or Sri Lanka, including banks in those jurisdictions, specifically for cross-border trade transactions. The change inserts a new clause into the principal regulations and takes effect upon publication in the official gazette, enacted by the central banking authority under its statutory powers to modify foreign exchange rules.
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