Form fc-gpr
This query is : Resolved
27 January 2012
Do we need to file FC-GPR form with RBI where there is no inward remittance?
If no then how?
If no then how?
RAMESH KUMAR VERMA
(Expert)
30 January 2012
yes,
FC-GPR stands for Foreign Currency General Purchase Register.
After the Issue of shares, the company should file a report in Form FC-GPR not later than 30 days from the date of issue of shares, The report should contain the following details,
* A certificate from the Company Secretary of the company accepting investment from persons resident outside India certifying that
o All the requirements of the Companies Act, 1956 have been complied with;
o Terms and conditions of the Government approval, if any, have been complied with;
o The company is eligible to issue shares under these Regulations, and
o The company has all original certificates issued by Authorised Dealers in India evidencing receipt of amount of consideration.
* A certificate from Statutory Auditors or a Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
The Reserve Bank may permit an Indian company issuing shares to persons resident outside India under this Schedule to retain the subscription amount in a foreign currency account, subject to such terms and conditions as it may stipulate.
for more info:
https://rbidocs.rbi.org.in/rdocs/Forms/PDFs/40495.pdf
FC-GPR stands for Foreign Currency General Purchase Register.
After the Issue of shares, the company should file a report in Form FC-GPR not later than 30 days from the date of issue of shares, The report should contain the following details,
* A certificate from the Company Secretary of the company accepting investment from persons resident outside India certifying that
o All the requirements of the Companies Act, 1956 have been complied with;
o Terms and conditions of the Government approval, if any, have been complied with;
o The company is eligible to issue shares under these Regulations, and
o The company has all original certificates issued by Authorised Dealers in India evidencing receipt of amount of consideration.
* A certificate from Statutory Auditors or a Chartered Accountant indicating the manner of arriving at the price of the shares issued to the persons resident outside India.
The Reserve Bank may permit an Indian company issuing shares to persons resident outside India under this Schedule to retain the subscription amount in a foreign currency account, subject to such terms and conditions as it may stipulate.
for more info:
https://rbidocs.rbi.org.in/rdocs/Forms/PDFs/40495.pdf
31 January 2012
Sir, thanks for the reply...
Sir, what about inward remittance?????
Sir, what about inward remittance?????
RAMESH KUMAR VERMA
(Expert)
31 January 2012
If company has issue shares under automatic route required to file FC -GPR within 30 days to regional office of RBI.
sir pls. check this link:
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/76939.pdf
sir pls. check this link:
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/76939.pdf
Oovesh SARA
(Expert)
06 February 2012
if a company has received 500 usd for providing some services, company has received an firc form bank, do we need to file fcgpr ?
RAMESH KUMAR VERMA
(Expert)
21 February 2012
if they exporter and received the FC through EEFC A/C, BUT BANK STATEMENT WILL SUFFICE.
Regards,
Regards,
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