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 central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
The central bank mandates that, from January 1, 2026, Authorised Dealer Category-II banks, entities, and full-fledged money changers must directly submit a "LRS daily return" (including nil returns) on the Centralised Information Management System. They will gain CIMS access to verify cumulative PAN-wise remittances under the Liberalised Remittance Scheme in the current financial year before processing further transactions. Consequently, these entities may stop routing LRS transaction reporting through Authorised Dealer Category-I banks. All authorised persons must follow the CIMS user manual and may approach the relevant regional foreign exchange department for operational issues. The Master Direction on FEMA reporting will be updated accordingly.
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