For ready reference Fema reporting delays penal provisions
1] Reporting
Contraventions
A) FEMA 20 Para 9(1)(A), 9(1)(B), FCTRS (Reg. 10) and taking on record FCTRS (Reg. 4)
B) FEMA
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Non submission of ECB statements
C) FEMA
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Second/subsequent remittance without obtaining of UIN will be covered under Item 5 below). Non reporting/delay in reporting of acquisition/setup of subsidiaries/step down subsidiaries /changes in the shareholding pattern
D) Any
other reporting contraventions (except those in Item 2 below)
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Fixed amount : Rs10000/- (applied once for each
contravention in a compounding application) + Variable amount as under:
Upto 10 lakhs: 1000 per year Rs.10-40 lakhs: 2500 per year Rs.40-100 lakhs: 7000 per year Rs.1-10 crore : 50000 per year Rs.10 -100 Crore : 100000 per year Above Rs.100 Crore : 200000 per year |
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Paragraph 9(1)(A) of Schedule I
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Delay in reporting inward remittance for issue
of shares.
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Paragraph 9(1)(B) of Schedule I
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Delay in filing form FC(GPR) after issue of
shares
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