Supreme Court Cancels SARFAESI Auction Sale After 16 Years Due to a 5-Day Payment Delay || Jhar HC Orders 2-Month Probe Deadline, DGP Monitoring to Overhaul Sexual Violence Response in State || Delhi HC: Social Media Cannot Undermine Judiciary; Intermediaries Must Act Without Court Orders || Bom HC Directs No Coercive Action Against Anil Ambani under Black Money Act in Rs 420 Crore Tax Case || Allahabad HC Flags Misuse of BNSS Preventive Detention Powers in Prayagraj Police Commissionerate || Bombay HC: Court-Directed Disclosure Prevails over Confidentiality Clause in Agreement || SC : Del HC can be Approached by CAPF Personnel for Service Disputes || Delhi HC: Khurram Parvez Granted Bail in UAPA Case || Allahabad HC: Magistrates, Police Personally Liable for Illegal Detention || Bombay HC: No Case for Prior Restraint Against HDFC

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 :