https://www.taxtmi.com/circulars?id=8147 The Master Circular directs AD Category - I banks to ensure imports comply with FEMA and Foreign Trade Policy, KYC/AML norms, and to use Form A 1 for import payments above USD 500. It prescribes time limits (six months normally; up to three years for certain trade credits), conditions for advance remittances (guarantee/L/C thresholds and sectoral relaxations for rough diamonds, aircraft, BPO), evidentiary requirements for remittances above USD 100,000 (Exchange Control Bill of Entry or approved alternatives), follow up/reporting obligations (BEF, half yearly and special reports), document preservation and sectoral controls for precious metals and specialised imports. en-us Thu, 01 Jul 2010 00:00:00 +0530 Wed, 11 Feb 2026 15:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8147 The Master Circular directs AD Category - I banks to ensure imports comply with FEMA and Foreign Trade Policy, KYC/AML norms, and to use Form A 1 for import payments above USD 500. It prescribes time limits (six months normally; up to three years for certain trade credits), conditions for advance remittances (guarantee/L/C thresholds and sectoral relaxations for rough diamonds, aircraft, BPO), evidentiary requirements for remittances above USD 100,000 (Exchange Control Bill of Entry or approved alternatives), follow up/reporting obligations (BEF, half yearly and special reports), document preservation and sectoral controls for precious metals and specialised imports. Circulars FEMA Thu, 01 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8147