IFSCA has published a Circular bearing ref. No. F. No. 865/IFSCA/Banking/Fee Revision/2022-23 on July 10, 2023 (“Amendment Circular”) amending certain provisions of the Circular on Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC dated May 17, 2023.
Key highlights of the Amendment Circular
1. The word “preceding” has been inserted wherever recurring fees has been prescribed. Accordingly, the text shall be read as “shall be paid within 30 days of the end of the preceding financial year”
2. For remitting the fee in INR, RBI reference rate for the date on which the remittance is being made will be applicable instead of the latest RBI reference rate.
Source category: IFSC Insurance Office
Attachments
- /2023/231_Amendments-Circular_on_Fee_structure.pdf
- /2023/231_Comparison-Existing_and_Amended_provisions.pdf
- /2023/231_Fee_structure_IFSC_as_amended_up_to_July_5,_2023.pdf
Comments are closed