REMITTANCE OF COST OF TRAINING AND CONSULTANCY SERVICES. REF: FEPD CIRCULAR NO. 08 DATED 18.02.2014.

Attention of the Authorized Dealers (ADs) is invited to paragraph 27, chapter 10 of the Guidelines for Foreign Exchange Transactions (GFET)–2009, Vol-1 in terms of which industrial enterprises producing for local markets may remit through their nominated ADs upto 1% of annual sales as declared in their previous years’ income tax return towards costs of training and consultancy services as per relevant contract with the foreign trainer/consultant. This paragraph also states that industrial enterprises mean firms and companies engaged in manufacturing or processing or assembling.

02. It has now been decided that the above facilities will also be applicable for service sector industries which are within the purview of Industrial Policy in force.

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