https://www.taxtmi.com/circulars?id=7867 The circular clarifies that the increased advance remittance limit for import of services without bank guarantee applies generally but does not apply to Public Sector Companies or Government Departments/Undertakings; those entities must continue to obtain Ministry of Finance approval for advance remittances exceeding the earlier threshold. All other terms of the prior circular remain unchanged, and Authorised Dealer Category I banks should notify their constituents. The directions are issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. en-us Mon, 05 Oct 2009 00:00:00 +0530 Wed, 23 Dec 2009 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7867 The circular clarifies that the increased advance remittance limit for import of services without bank guarantee applies generally but does not apply to Public Sector Companies or Government Departments/Undertakings; those entities must continue to obtain Ministry of Finance approval for advance remittances exceeding the earlier threshold. All other terms of the prior circular remain unchanged, and Authorised Dealer Category I banks should notify their constituents. The directions are issued under Section 10(4) and 11(1) of the Foreign Exchange Management Act, 1999. Circulars Service Tax Mon, 05 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7867