Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: cpt :: VAT Audit :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
« Latest Circulars »
 RBI-Sources of Variation in Foreign Exchange Reserves in India during April-December 2016
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2016-17
 RBI signs Memorandum of Understanding(MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Bank of Thailand
 RBI-Meeting Schedule of the Monetary Policy Committee for 2017-18
 RBI to conduct Overnight, 7 day and 14 day Variable rate Reverse Repo auctions under LAF on March 22, 2017
 Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies
 Master Directions on Issuance and Operation of Prepaid Payment Instruments in India
 RBI seeks comments on draft circular on Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India
  Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)
 RBI-Reporting and Accounting of Central Government Transactions of March 2017
 Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)

Regarding location of Foreign Exchange Counters at International airports
November, 11th 2011

 

Circular No. 51/2011-Customs

 

F.No.520/25/2008-Cus.VI (pt.)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

227-B, North Block,

New Delhi -110001.

 

11th November, 2011.

 

 

To,

 

All Chief Commissioners of Customs / Customs (Prev.).

All Chief Commissioners of Customs & Central Excise.

All Commissioners of Customs / Customs (Prev.).

All Commissioners of Customs (Appeals).

All Commissioners of Customs & Central Excise.

All Commissioners of Customs & Central Excise (Appeals).

All Directors General under CBEC.

 

 

Subject: Location of Foreign Exchange Counters at International airports -regarding

 

Sir / Madam, 

 

            References have been received in the Board from field formations seeking clarification on the issue of location of Foreign Exchange Counters in departure / arrival hall of international airports.

 

2.         It is reported that, Foreign Exchange Counters located after immigration and before Customs (green / red channel) in the arrival hall and after Customs in the departure hall, are posing problems in enforcement of FEMA regulations / RBI guidelines in regard to import and export of Indian Currency by Indian resident passengers as well as well as non resident passengers / foreign tourists.

 

 3.        The matter has been examined in consultation with RBI. RBI vide letter No. RBI/2011-12/234, [A.P. (DIR Series) Circular No. 38] dated Oct 25, 2011, in respect of Foreign Exchange Counters (full-fledged branches / extension counters) opened by Authorised Dealer Category-I banks, Authorised Category-II and Full Fledged Money Changers beyond the Domestic Tariff Area in international airports in India, has clarified that:

 

(a) Foreign Exchange Counters in the arrival halls in international airports in India shall ideally be established after the Customs Desk (Green Channel/Red Channel).  However, Foreign Exchange Counters may also be established between the Immigration Desk and the Customs Desk in international airports in India, subject to the condition that these counters shall only purchase Foreign currency and sell Indian Rupees (INR) and Encashment Certificates, shall invariably be issued by the money changers to the customers. 

(b) Similarly, Foreign Exchange Counters in the departure halls in international airports in India shall be established only before the Customs Desk or the Immigration Desk, whichever comes first.  Putting up suitable display at these counters, reminding the passengers that the area is the last point for non-residents to possess Indian Rupees (INR) may be followed up with the Airport Authorities.

 

(c)  The Foreign Exchange Counters of Authorised Dealers Category-I banks, Authorised Dealers Category-II and Full Fledged Money Changers, not conforming to the above, should be relocated in accordance with the above instructions, latest by 31.12. 2011. 

 

4.         All Commissioners in charge of International airports are directed to ensure that the directions contained in the said Circular are complied with scrupulously.

 

5.         Wide publicity may be given to the above directions of the RBI for compliance by all concerned. 

 

Yours faithfully

 

 

(R. P. Singh)

Director (Customs)

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions