Notification No.: RBI/FED/2016-17/12 dated October 01, 2025
The Reserve Bank of India has issued the Master Direction on Import of Goods and Services, consolidating all instructions and circulars governing import transactions under FEMA. This direction provides a single reference document for authorised dealer banks and importers for the management of foreign exchange related to imports.
The Master Direction on Import of Goods and Services has been formally notified. It codifies procedures and compliances for payment against imports of goods, services, and software into India, covering documentation, timelines for remittance, and obligations of authorised dealer banks. The direction supersedes earlier circulars and provides a unified framework for import-related foreign exchange operations.
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