Freely convertible currency requirement: exports to Nepal and Bhutan qualify for notification benefits when payment is in listed convertible currencies. Amendment confines applicability of the Central Excise notification to exports to Nepal and Bhutan only where payment is in specified freely convertible currency, lists acceptable currencies and treats Indian Rupees bought by the Asian Development Bank via payment to the Reserve Bank of India in foreign exchange as convertible; it also applies the conditions, safeguards and procedure of the Ministry of Finance notification for such exports.
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.
Freely convertible currency requirement: exports to Nepal and Bhutan qualify for notification benefits when payment is in listed convertible currencies.
Amendment confines applicability of the Central Excise notification to exports to Nepal and Bhutan only where payment is in specified freely convertible currency, lists acceptable currencies and treats Indian Rupees bought by the Asian Development Bank via payment to the Reserve Bank of India in foreign exchange as convertible; it also applies the conditions, safeguards and procedure of the Ministry of Finance notification for such exports.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
