News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Edited Transcript of Reserve Bank of India’s Fifth Bi-Monthly Monetary Policy Tele Conference with Researchers and Analysts
 Auction of Government of India Dated Securities December 09, 2019
  Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders
 Availability of National Electronic Funds Transfer (NEFT) System on 24x7 basis
 Acquisition of financial assets by Asset Reconstruction Companies from sponsors and lenders
 RBI releases “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”
 Exim Bank's Government of India supported Line of Credit (LOC) of USD 500 million to the Government of Bangladesh
 Prohibition of Benami Property Transactions (1st Amendment), Rules, 2019
  Application for initiation of corporate insolvency resolution process against Dewan Housing Finance Corporation Limited filed under the Insolvency and Bankruptcy Code, 2016
 RBI-Auction of Government of India Dated Securities December 02, 2019
 Application for initiation of corporate insolvency resolution process against Dewan Housing Finance Corporation Limited filed under the Insolvency and Bankruptcy Code, 2016

Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality
November, 26th 2019

RBI/2019-20/103
A.P. (DIR Series) Circular No. 10

November 22, 2019

To

All Category-I Authorised Dealer Banks

Re-export of unsold rough diamonds from Special Notified Zone of Customs without Export Declaration Form (EDF) formality

Attention of Authorised Dealer Category – I banks (AD banks) is invited to the A.P. (DIR Series) Circular No.1 dated July 02, 2015.

2. It has been decided to modify the provisions contained in para 4 of the above A.P. (Dir Series) Circular, as under:-

For the lot/ lots cleared at the center/s which are duly notified under Customs Act, 1962 / specified by the Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance, Government of India for the above purpose, Bill of Entry shall be filed by the buyer. AD bank may permit such import payments after being satisfied with the bona-fides of the transaction. Further, AD bank shall also maintain a record of such transactions.

3. All other terms & conditions mentioned in the A.P. (DIR Series) Circular No.1 dated July 02, 2015 remain unchanged.

4. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned.

5. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the FEMA, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(Sharmila Thakur)
General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting