As Per RBI , there is no documents insisted by the Banks if the foreign remittance is less than US $250 or equivalent for bonafide case.Most of online purchase falls under this range only.
Further, there is no monetary limit for using International credit card(ICC).
Regarding payment in Indian rupees for import made by a person is accepted through ICC by any authorised bank. There is restriction to use ICC for prohibited transactions. A ready reference list for additinal use is produced below(source is RBI WEBSITE):
(a) Import of software through Internet.
(b) Fees for training or education of scientific/technical nature through Internet.
(c) Registration of Internet domain name, hosting charges for websites/home pages overseas and access fees for Internet related services through website .
(d) Advance payment not exceeding U.S.$ 15,000 for import of software/database through internet may also be allowed .The cardholder should furnish the details of software/database obtained through the Internet, charges to be paid to the overseas organisation for downloading the software/data and a declaration having received the software/data for which the payment was made through ICC .
There are many digital goods like Music,which can be bought through internet, but,no specific guidelines by the RBI.It seems that general rules related to foreign remittance will apply.
No comments:
Post a Comment