RBI uniforms the Late Submission Fee to be paid for different reporting delays under FEMA
- Blog|FEMA & Banking|News|
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- By Taxmann
- Last Updated on 3 October, 2022
RBI/2021-22/122 A.P. (DIR Series) Circular No. 16 dated 30-09-2022
The reporting delays under FEMA can be regularised on the submission of LSF. As on date different methodologies existed for the calculation of LSF to be paid for various reporting delays. RBI has now decided to bring uniformity in the imposition of LSF across functions. A uniform fee is to be paid for various delays in reporting.
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