TaxTMI 
TaxTMI 
Compilation of R-Returns: Reporting under FETERS
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.... platform and A.P.(DIR Series) Circular No.15 dated July 28, 2014 which discontinued separate reporting of information in ENC (Export Bills Negotiated / sent for collection) for acknowledgement of receipt of export documents and Sch.3 to 6 (realization of export proceeds) under FETERS. Web based data submission by AD banks 2. In order to enhance the security-level in data submission and further improve data quality, the following modifications shall be effected in the guidelines for submission of data under the FETERS from 1st fortnight of April 2016 (i.e., reporting of those transactions which take place from April 1, 2016): * The present email-based submission will be replaced by web-portal based data submission. However, there are no....
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....tion of NPD export bills (full value of bill to be reported) - other than Nepal and Bhutan] have become defunct and are, therefore, discontinued. Revision in Form A2 3. Further, in-order to streamline the reporting of the transactions relating to the Liberalised Remittance Scheme (LRS) in FETERS and On-line Return Filing System (ORFS), it has been decided that transactions relating to LRS may be reported under respective FETERS purpose codes (e.g. travel, medical treatment, purchase of immovable property, studies abroad, maintenance of close relatives; etc.) instead of reporting collectively under the purpose code S0023. This would help AD banks in classification of transactions for similar activity under single purpose code. Therefore, t....
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.... Sr. No. Whether under LRS (Yes/No) Purpose Code Description As per the Annex iv. Further, the 'Application cum Declaration for purchase of foreign exchange under the Liberalised Remittance Scheme of USD 250,000' has been clubbed with Form A2 in order to reduce multiplicity of forms to be filled in by the customers. Online submission of Form A2 by the remitter 4. With a view to facilitating miscellaneous remittances and reducing paperwork associated with payment transactions, it has been decided that Authorised Dealer banks, offering internet banking facilities to their customers may allow online submission of Form A2. Besides, they may also enable uploading/submission of documents, if and as may be necessary, to establish the permis....