SC Condemns Witch-Hunting, Says Superstition Continues to Override Constitutional Morality || SC: Retired Judges Appointed to Central Industrial Tribunals Not Entitled to Pay Parity || SC: Electricity Boards Liable for Electrocution Deaths under Strict, Not Absolute Liability || Supreme Court Criticizes Courts For Conducting ‘Mini-Trials’ in Temporary Injunction Matters || SC: Common Judgment in Suits by Same Plaintiff can be Challenged Through Composite Appeal || Chandigarh Court Orders Meta to Take Down AI-Generated Video of Punjab MLA Sukhpal Khaira || Delhi HC: Insolvency Professionals Must Collect & Deposit GST Even if they are Advocates || Madras HC Rejects Election Petition Challenging Colachel MLA Tharahai Cuthbert || Supreme Court: Uncrystallized Contractual Damages Not an Operational Debt under Section 9 IBC || Supreme Court: Interest Accrued in Suspense Account After NPA Classification is Recoverable as Debt

INR spend limit at duty free shops raised- (Ministry of Finance ) (06 Jul 2016)

MANU/CUCR/0031/2016

Customs

The Ministry of Finance raised the ceiling for payments at duty free shops at international airports from Rs. 5000 to Rs. 25,000.

In 2005, the Ministry had set the ceiling for payments at duty free shops at international airports in India at Rs. 5000, given that the amount of currency that could be imported an exported by travellers itself was restricted.

With the RBI having raised the same to Rs. 25,000 in 2015, a corresponding increase in permissible spend in INR at duty free shops was warranted.

Relevant : Notification No. 12/2012-Central Excise MANU/EXCT/0023/2012

Tags : DUTY FREE SHOPS PAYMENTS INDIAN RUPEE

Share :