TaxTMI 
TaxTMI 
TaxTMI 
FEMA 1999 - Imports into India – Direct Receipt of Import Bills/Documents - Liberalisation
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....lers in Foreign Exchange Madam / Sirs, FEMA 1999 - Imports into India - Direct Receipt of Import Bills/Documents - Liberalisation Attention of Authorised Dealers is invited to paragraph A.12 of the Annexure to A.P.(DIR Series) Circular No. 106 dated June 19, 2003 permitting Authorised Dealers to make remittances in respect of certain import bills/documents which have been directly received by t....
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....fully, Grace KoshieChief General Manager Encl: As above Annexure [A.P. (DIR Series Circular No.66 dated February 6, 2004] Original Revised Paragraph A-12 of A.P. (DIR Series) Circular No.106 dated June 19, 2003 --------------------------------------------------------------------------------------------------- Receipt of import Bills/Documents i. Import bills and documents should be rece....
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....tals, etc. and iii. imports by reputed research and other development institutions like Tata Institute of Fundamental Research, C-DOT, Indian Institute of Technology, Indian Institute of Science and Universities. e. Import bills received by all limited companies viz. public limited, deemed public limited and private limited companies. i. In all other cases, at the request of importer clients....
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....banker of the importer in India. Authorised dealers should not, therefore, make remittances where import bills have been received directly by the importers from the overseas supplier, except in the following cases: a. Where the value of import bill does not exceed USD 100,000. b. Import bills received by wholly-owned Indian subsidiaries of foreign companies from their principals. c. Import b....