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The Ministry of Finance, through the Department of Revenue, has issued a fresh notification introducing amendments to the existing framework governing enforcement cases under foreign exchange laws. The notification (S.O. 1397(E)) revises the monetary thresholds applicable to certain categories of ca
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The Ministry of Finance has revised the monetary thresholds for enforcement cases under the Foreign Exchange Regulation Act, 1973 (FERA) and the Foreign Exchange Management Act, 1999 (FEMA).
Cases involving amounts exceeding Rs 2 crore but not exceeding Rs 10 crore have been revised and now fall within a specified category under both FERA and FEMA.
The notification has been issued using powers under Section 50 of FERA, 1973, Section 4(1) and 4(3) of FERA, and Section 49(3), 49(4), and 49(5) of FEMA, 1999.
The revision helps streamline case classification based on monetary value, ensures uniformity in handling mid-range financial violations, and improves administrative efficiency for authorities like the Enforcement Directorate.
The amendment modifies an earlier notification dated September 30, 2014.
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