https://www.taxtmi.com/circulars?id=8319 AD Category-I banks may repatriate export receipts facilitated by Online Payment Gateway Service Providers if they perform due diligence, limit the facility to low-value exports, open NOSTRO collection accounts into which all receipts are swept, permit only repatriation to exporters, payment of predetermined fees to OPGSPs, and charge-backs, repatriate balances to exporters promptly on importer confirmation within a short prescribed period, ensure appropriate purpose codes, report transactions to the central bank on request, and conduct quarterly reconciliation and audit; OPGSPs must open liaison offices and obtain prior approval as required. en-us Tue, 16 Nov 2010 00:00:00 +0530 Wed, 17 Nov 2010 22:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8319 AD Category-I banks may repatriate export receipts facilitated by Online Payment Gateway Service Providers if they perform due diligence, limit the facility to low-value exports, open NOSTRO collection accounts into which all receipts are swept, permit only repatriation to exporters, payment of predetermined fees to OPGSPs, and charge-backs, repatriate balances to exporters promptly on importer confirmation within a short prescribed period, ensure appropriate purpose codes, report transactions to the central bank on request, and conduct quarterly reconciliation and audit; OPGSPs must open liaison offices and obtain prior approval as required. Circulars FEMA Tue, 16 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8319