J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC || Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment || Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues || SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted || Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules || Supreme Court: Post-Award Property Purchasers Cannot Resist Execution of an Arbitral Award || SC: Telecom Spectrum is a Community Resource and its Ownership Cannot be Decided under the IBC || SC: Police Failure to Invoke IPC Provisions Led to Contractor’s Acquittal in Cement Stockpiling Case || SC: Bank’s Internal Classification of Debt as NPA Does Not Determine Limitation under the IBC || Bombay HC: Clarifies Procedure for Executing Foreign Decrees

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 :