Intermediary services exemption protects IFSC intermediaries providing international financial services to customers abroad in foreign currencies. Entry 39 exempts services by business facilitators or business correspondents to banking company accounts in rural area branches, intermediaries to such facilitators or correspondents, and facilitators or correspondents to insurance companies in rural areas. Entry 39A exempts services by an intermediary of financial services in an IFSC located in a multi services SEZ when supplied to a customer outside India for international financial services in currencies other than the Indian rupee, and specifies qualifying intermediaries by regulatory recognition, foreign resident treatment, insurance registration, or securities regulator permission.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Intermediary services exemption protects IFSC intermediaries providing international financial services to customers abroad in foreign currencies.
Entry 39 exempts services by business facilitators or business correspondents to banking company accounts in rural area branches, intermediaries to such facilitators or correspondents, and facilitators or correspondents to insurance companies in rural areas. Entry 39A exempts services by an intermediary of financial services in an IFSC located in a multi services SEZ when supplied to a customer outside India for international financial services in currencies other than the Indian rupee, and specifies qualifying intermediaries by regulatory recognition, foreign resident treatment, insurance registration, or securities regulator permission.
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