75th Founding Day Lecture Meeting on “India@2030” Know More

July 2013

A. P. (DIR Series) Circular No. 109 dated June 11, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
fiogf49gjkf0d
Processing and Settlement of Export related receipts facilitated by Online Payment Gateways – Enhancement of the value of transaction

Presently, banks can offer facility to repatriate export related remittances by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSP) for export of goods and services for value not exceeding US $ 3,000 per transaction.

This circular has increased this limit from US $ 3,000 to US $ 10,000 per transaction. Hence, banks can now offer facility to repatriate export related remittances by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSP) for export of goods and services for value not exceeding US $ 10,000 per transaction.

Download PDF

You May Also Like

Gift Tax – Deemed Gift – Whether there is deemed gift of bonus shares (retained by the Donee) by the Donor in the year of revocation of gift of shares with proviso that gift shall not include bonus shares? – Matter remanded.

Chains of gold – Reduce Gold imports, but don’t punish those holding gold