Expiry of Six Months period u/s 18 FERA alone does not invoke duty to get Sale Proceeds of Repatriated Exports: Calcutta HC [Read Order]

By Manu Sharma - On January 4, 2023 9:45 am - 2 mins read
Expiry of Six Months period - FERA - invoke duty - Sale Proceeds of Repatriated Exports - Calcutta HC - Taxscan

A Single Bench of Calcutta High Court has held that mere expiry of the time period of six months prescribed under Section 18 of the Foreign Exchange Regulation Act, 1973 while rejecting the argument of a resigned director of M/s Grapco Industries Limited, in the alleged contravention of provisions of Sections 18 (2) and 18…

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