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FEMA - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

International Trade Settlement in Indian Rupees (INR) – Opening ...

FEMA

November 18, 2023

International Trade Settlement in Indian Rupees (INR) – Opening of additional Current Account for exports proceeds - RBI grants permission to open an additional special current account for its exporter constituent exclusively for settlement of their export transactions.

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  1. Full Exemption allowed in respect of IGST on supply of services to Nepal and Bhutan against payment in INR (Indian Rupees)

  2. External Commercial Borrowings (ECB) denominated in Indian Rupees (INR) - hedging facilities for non-resident entities. - Cir. No. 63 Dated: December 29, 2011

  3. Business Auxiliary Services - Export - When Reserve Bank of India permits that the same can be received in Indian Rupees through FIRC, in that situation, benefit of...

  4. Rate of exchange of one unit of foreign currency equivalent to Indian rupees - For Import of Goods and Export Goods - Notification

  5. Rate of exchange of one unit of foreign currency equivalent to Indian rupees - For Import and Export of goods - Notification

  6. Merely because payment is received in Indian rupee, it cannot be said that payment against export has not been received in convertible foreign exchange.

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  8. Rate of exchange of one unit of foreign currency equivalent to Indian rupees - Notification

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