https://www.taxtmi.com/circulars?id=12024 The circular permits issuance of equity or preference shares under the Government route by conversion of imports of capital goods, but revises conditions to exclude second hand machineries from eligible imports; independent third party valuation, preferably from the country of import and supported by customs documentation, is required to assess the fair value. All other prior conditions remain unchanged and Authorised Dealer Category I banks must inform customers; the amendment is notified under the foreign exchange regulatory framework and does not affect other statutory permissions. en-us Thu, 10 Jan 2013 00:00:00 +0530 Sat, 12 Jan 2013 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=12024 The circular permits issuance of equity or preference shares under the Government route by conversion of imports of capital goods, but revises conditions to exclude second hand machineries from eligible imports; independent third party valuation, preferably from the country of import and supported by customs documentation, is required to assess the fair value. All other prior conditions remain unchanged and Authorised Dealer Category I banks must inform customers; the amendment is notified under the foreign exchange regulatory framework and does not affect other statutory permissions. Circulars FEMA Thu, 10 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=12024