Date of Message Exchange b/w Indian and Foreign Banks to be considered for Registration of L/Cs due to Fraudulent Practices: DGFT [Read Circular]

By Taxscan Team - On May 26, 2022 11:25 am - 2 mins read
Date - Message Exchange - Indian - Foreign Banks - Registration - LCs - Fraudulent Practices - DGFT - Taxscan

The Director-General of Foreign Trade (DGFT) has issued a trade notice clarifying that the date of message between Indian and foreign banks will be considered for the registration of L/Cs due to fraudulent practices. A trade notice issued on Monday stated that “In this regard, information has been received from sources that fraudulent backdated Letters…

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