https://www.taxtmi.com/notifications?id=141291 Regulations require receipts and payments between residents in India and non-residents to be made through an Authorised Bank or Authorised Person, with the Reserve Bank able to permit exceptions on application. Trade transactions have country-specific settlement rules: Nepal and Bhutan in Indian currency (with limited exceptions), ACU members via the ACU mechanism or RBI directions, and non-ACU countries in Indian currency or foreign currency. Non-trade transactions mirror these country-specific currency rules, and current account transactions with visitors must be in Indian currency; payments may also be by debit/credit to permitted bank accounts. en-us Wed, 20 Dec 2023 00:00:00 +0530 Fri, 22 Dec 2023 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=141291 Regulations require receipts and payments between residents in India and non-residents to be made through an Authorised Bank or Authorised Person, with the Reserve Bank able to permit exceptions on application. Trade transactions have country-specific settlement rules: Nepal and Bhutan in Indian currency (with limited exceptions), ACU members via the ACU mechanism or RBI directions, and non-ACU countries in Indian currency or foreign currency. Non-trade transactions mirror these country-specific currency rules, and current account transactions with visitors must be in Indian currency; payments may also be by debit/credit to permitted bank accounts. Notifications FEMA Wed, 20 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/notifications?id=141291