Master Circular – Import of Goods and Services

To,

All Category – I Authorised Dealer Banks

Madam / Sir,

Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. GSR 381(E) dated May 3, 2000 as amended from time to time.

2. The circular is organised into five parts as under :

Part I : Introduction
Part II : General guidelines for imports.
Part III: Operational guidelines for imports.
Part IV : Annex (notifications and the forms for imports)
Part V : List of all circulars consolidated in the Master Circular.

3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2009 and be replaced by an updated Master Circular on the subject.

Yours faithfully,