Remittance against current account transactions

Remittance against Current Account Transactions
Industrial enterprises and service sector industries can now remit up to 1% of their annual sales on account of costs of training and consultancy services. Legitimate current account payments such as audit fees, certification fees, commissioning fees, testing fees, valuation fees, and similar costs have been included to widen the scope of outward remittances. However, payments that necessitate authorization from competent authorities are excluded from this provision. These remittances must be made through Authorized Dealers (ADs) and must be accompanied by proof of payment of taxes and other levies.