Import of Goods of Value USD 100,000 and Less -Clarification on Follow up for Evidence of Import

Import of Goods of Value USD 100,000 and Less -Clarification on Follow up for Evidence of Import https://www.taxtmi.com/circulars?id=2134 AD banks must follow up with importers for submission of evidence of import where remittances exceed the prescribed threshold. For remittances at or below the prescribed threshold, ADs need not pursue evidence provided they are satisfied about the genuineness of the transaction and the bonafides of the remitter; banks should frame Board approved internal policies and guidelines to govern such cases. en-us Tue, 12 Jul 2005 00:00:00 +0530 Wed, 18 Feb 2026 17:56:00 +0530 TaxTMI RSS Generator Import of Goods of Value USD 100,000 and Less -Clarification on Follow up for Evidence of Import https://www.taxtmi.com/circulars?id=2134 AD banks must follow up with importers for submission of evidence of import where remittances exceed the prescribed threshold. For remittances at or below the prescribed threshold, ADs need not pursue evidence provided they are satisfied about the genuineness of the transaction and the bonafides of the remitter; banks should frame Board approved internal policies and guidelines to govern such cases. Circulars FEMA Tue, 12 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2134