Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
RBI has withdrawn the prior approval requirement for tie-ups between non-bank entities and Authorised Dealer Category-I banks for facilitating outward remittances, and has deleted paragraph 10 of the Master Direction with immediate effect. ADs may now use third-party online interfaces for non-trade current account outward remittances only if they comply with detailed transparency, customer protection, KYC, grievance redressal, data privacy, cybersecurity, settlement, and fund-safeguarding requirements. The AD remains solely responsible for FEMA compliance and for all acts and omissions of the third party, and remitter funds must move directly from the remitter's bank account to the beneficiary's bank account.
RBI has withdrawn the prior approval requirement for tie-ups between non-bank entities and Authorised Dealer Category-I banks for facilitating outward remittances, and has deleted paragraph 10 of the Master Direction with immediate effect. ADs may now use third-party online interfaces for non-trade current account outward remittances only if they comply with detailed transparency, customer protection, KYC, grievance redressal, data privacy, cybersecurity, settlement, and fund-safeguarding requirements. The AD remains solely responsible for FEMA compliance and for all acts and omissions of the third party, and remitter funds must move directly from the remitter's bank account to the beneficiary's bank account.
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