Fema act
This query is : Resolved
02 November 2015
As per Sec 10(4) & 11(1) of FEMA act, RBI is given powers to specify the period within which export proceeds are to be recovered, as per rbi notification the period is 9 Months.
My query is whether the period of 9 months is applicable to retention money which is being retained by importer of service(Leasing service)
My query is whether the period of 9 months is applicable to retention money which is being retained by importer of service(Leasing service)
Guest
Guest
(Expert)
04 November 2015
Dont worry. The time limit is not applicable for retention money part. it is there in master circular issued by RBI
04 November 2015
Thank you for your reply
I have read the Master circular.14/2013 but I was unable to find the retention money part
will I please help me ?
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