foreign currencies earned

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Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2011 I wud like to know whether a shop established in security area (departure )of an airport (which is deemed as international area) sell goods in foreign currencies and show the same as deemed export under Fema Act..If so what all licences amd certificates the shopkeeper has to preserve for conducting his buisness in foreign currencies.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

12 February 2011 https://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=5136

https://allindiantaxes.com/doc/78cf2cbd.doc

https://www.ptcinfo.org/eurogiro/rbiMasterCircularonadcatII.pdf

https://www.infodriveindia.com/Notifications/Master-Circular-on-Foreign-Investments-17656.aspx

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2011 Dear Sir
Thank you for your kind reply.But i wud like to clarify my question.One dealer resident in india (PONDICHERY) having ordinary shops selling leather bags has established a shop in security area of international airport and is selling leather bags to passengers departing from airport in foreign currencies and is claiming the same as deemed export.Is this permissable?If so what all licences amd certificates the shopkeeper has to preserve for conducting his buisness in foreign currencies.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

15 February 2011 in india,the passenger are providing in indian rupees in respect of goods selling .

a hotel can avail this facility not by you.

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