Business Standard

Chatroom: 'No GST rebate or exemption against supply of services to EOUs'

Section 16 of the CGST Act, 2017 allows you to take input tax credit of the input tax charged on any supply of goods or services, or both, subject to certain conditions

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TNC Rajagopalan
I just returned from abroad and have some unspent foreign exchange with me. Can I use it for some other purpose? Can I keep it with me for my next overseas visit? Or, do I have to surrender it to the bank and if so, within what period?

You can use the unspent foreign exchange for any other eligible current account payments, which includes foreign exchange required for your next visit. You can retain foreign currency, travelers’ cheques and currency notes up to an aggregate amount of $2000, and foreign coins without any ceiling beyond 180 days from the date

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First Published: Mar 20 2023 | 6:27 PM IST

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