SC Explains When Shares Received After Company Amalgamation are Taxable as Business Income || SC: Excavators, Dumpers Etc Used Within Factories aren’t Motor Vehicles For Road Tax Purposes || SC: Complaints Alleging Fraud under Companies Act Can Be Filed Only By SFIO, Not By Private Parties || SC: Preventive Detention Cannot Override Bail and Requires Proof of a Threat to Public Order || Supreme Court: Multiple Complaints Are Valid For Dishonour of Several Cheques in One Transaction || SC: Bail Should Not be Refused Mechanically Nor Granted Based on Irrelevant Considerations || Gujarat HC: Motor Accident Compensation Doesn’t Cover Medical Expenses Paid by Charity || HP High Court: Panchayati Raj Elections Cannot Be Postponed Beyond Five-Year Term || Ker HC: Victim Cannot File Second Appeal Seeking Special Leave Against Acquittal Under S.419(4) BNSS || Delhi HC: Right to Higher or Professional Education is Fundamental and Cannot be Curtailed Lightly

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 :