Corrigendum to
Circular No.19/2010-Customs
F.No.520/23/2010-Cus.VI
Government of India
Ministry of Finance
Department of Revenue
Central Board of
Excise & Customs
159-A, North Block,
New
Delhi - 110001.
6th August,
2010.
To
All Chief
Commissioners of Customs
All Chief Commissioners of Customs (Prev).
All Commissioners of
Customs (Airport).
All Commissioners of
Customs (Port).
All Commissioners of Customs & Central Excise.
Subject:
Display at Airports / LCS about prohibition of import / export of Indian
currency notes of denomination of above Rs.100 in India and in Nepal –
regarding
***
Sir / Madam,
Your kind attention is invited to
the Circular No.19/2010-Customs dated 13.7.2010 on the above subject.
2. In partial modification, the Para 1 of
the above-mentioned Circular should now be read as under:
“As you may be aware, the export and import of
currency notes of Government of India and Reserve Bank of India of
denominations of above Rs.100 is not allowed to and from Nepal and Bhutan in
terms of Notification No. FEMA 6 / RB-2000 dated 3.5.2000 issued under Foreign
Exchange Management (Export and Import of Currency) Regulations, 2000 by the
Reserve Bank of India. Similarly, the Indian currency notes of the denomination
of Rs.1000 and Rs.500 are not permissible for exchange for banking transaction
in Nepal in terms of guidelines issued by Ministry of Finance, Government of
Nepal and Nepal Rashtra Bank. In fact, the current legal provisions in
Nepal provide that notes of these denominations are liable for seizure and the
persons carrying them are to be fined or imprisoned for upto three years.”
3. The other contents of the Circular
would remain the same.
Yours faithfully,
( R. P. Singh )
Director (Customs)