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FEMA - Highlights / Catch Notes

Home Highlights January 2016 Year 2016 This

Importers who had acquired foreign exchange from their ...


Importers using foreign exchange for goods are compliant with FERA 1973 Sections 8(3) & 8(4); Bill of Entry is proof.

January 6, 2016

Case Laws     FEMA     AT

Importers who had acquired foreign exchange from their authorized dealers for the purpose of imports of specified goods - there is no contravention of Section 8(3) or 8(4) of FERA, 1973 as only proof of import of goods has to be filed and Bill of Entry of WH is a valid and convincing proof of the arrival of goods in India. - AT

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