The Reserve Bank of India (RBI) on August 29, 2024, updated the Master Direction - Import of Goods and Services.
Instructions issued on the import of goods and services into India have been compiled in this Master Direction. The list of underlying circulars/notifications that form the basis of this Master Direction is furnished in the Appendix. Reporting instructions can be found in Master Direction on reporting (Master Direction No. 18 dated January 01, 2016).
It may be noted that, whenever necessary, the Reserve Bank shall issue directions to Authorised Persons through A.P. (DIR Series) Circulars in regard to any change in the Regulations or the manner in which relative transactions are to be conducted by the Authorised Persons with their customers/ constituents. The Master Direction issued herewith shall be amended suitably simultaneously. This Master Direction is issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 and is without prejudice to permissions/ approvals, if any, required under any other law.
[Notification No. RBI/FED/2016-17/12 FED Master Direction No. 17/2016-17]
