https://www.taxtmi.com/circulars?id=11134 Government route conversion into equity is permitted for import payables for capital goods and for pre operative/pre incorporation expenses, subject to compliance with import policy and FEMA import regulations, independent third party valuation and customs documentation for imports, disclosure of beneficial ownership, completion of conversion within 180 days of shipment or within the permitted retention period for advances, submission of FIRCs and auditor certification for pre operative expenses, direct payment by the foreign investor, a company special resolution, adherence to RBI pricing guidelines, and appropriate tax clearance. en-us Thu, 30 Jun 2011 00:00:00 +0530 Thu, 30 Jun 2011 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11134 Government route conversion into equity is permitted for import payables for capital goods and for pre operative/pre incorporation expenses, subject to compliance with import policy and FEMA import regulations, independent third party valuation and customs documentation for imports, disclosure of beneficial ownership, completion of conversion within 180 days of shipment or within the permitted retention period for advances, submission of FIRCs and auditor certification for pre operative expenses, direct payment by the foreign investor, a company special resolution, adherence to RBI pricing guidelines, and appropriate tax clearance. Circulars FEMA Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11134