TaxTMI 
TaxTMI 
Amendment in Para 2.52 and 2.53 of the Foreign Trade Policy (FTP) 2023
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....t: Amendment in Para 2.52 and 2.53 of the Foreign Trade Policy (FTP) 2023 - Reg. S.O.(E): In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade (Development & Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended from time to time, the Central Government hereby makes the following amendments relating to Para 2.52 and 2.53 of ....
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....rvice charges) will count as export realization under FTP export promotion schemes. (c) Contracts settled through the ACU must be denominated in ACU Dollars, although transactions may be settled in ACU Dollar or ACU Euro per RBI notifications. The Central Government may relax these provisions when appropriate. Export contracts and invoices can be denominated in Indian rupees under an EXIM Bank/....
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....n currency or Indian Rupees. Export proceeds shall be realized either in any foreign currency or in Indian Rupees. (b) Export contracts involving member countries of the ACU, other than Nepal and Bhutan, shall be denominated in a currency determined by the ACU. However, such transactions may also be denominated and settled in accordance with the directions issued by the Reserve Bank of India fr....
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....ed to avail exports benefits / incentives / fulfilment of Export Obligations under the FTP. Exports to any country, other than Nepal and Bhutan, for which export proceeds are realized in Indian Rupees through banking channels by credit to Indian Rupee accounts of persons resident outside India, opened in accordance with the Foreign Exchange Management (Deposit) Regulations, as amended from time....