Import of goods and services- Extension of time limits for Settlement of import payment

Import of goods and services- Extension of time limits for Settlement of import payment https://www.taxtmi.com/circulars?id=64042 Remittance completion period for normal imports has been extended from six months to twelve months from shipment date for imports made on or before July 31, 2020 due to COVID 19 disruptions; exclusions include import of gold/diamonds/precious stones/jewellery and cases where amounts are withheld as guarantees. Authorised Dealer Category I banks must notify constituents. Directions are issued under the Foreign Exchange Management framework and without prejudice to other legal permissions or approvals. en-us Fri, 22 May 2020 00:00:00 +0530 Wed, 18 Feb 2026 18:11:00 +0530 TaxTMI RSS Generator Import of goods and services- Extension of time limits for Settlement of import payment https://www.taxtmi.com/circulars?id=64042 Remittance completion period for normal imports has been extended from six months to twelve months from shipment date for imports made on or before July 31, 2020 due to COVID 19 disruptions; exclusions include import of gold/diamonds/precious stones/jewellery and cases where amounts are withheld as guarantees. Authorised Dealer Category I banks must notify constituents. Directions are issued under the Foreign Exchange Management framework and without prejudice to other legal permissions or approvals. Circulars FEMA Fri, 22 May 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64042