Banks to give Remittance Detail to DRI, Non Compliance to Attract Penalty

[Customs Notification 114 (Non Tariff) dated 14 December 2017]

In exercise of the powers conferred by sections 108A read with section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules, namely: -

1. Short title and commencement.- (1) These rules may be called the Customs (Furnishing of Information) Rules, 2017.

(2) They shall com e into force from the 1st day of January, 2018.

2. Definition.- (1) In these rules, unless the context otherwise requires.-

(a) "authorised person" means any person authorised by the class of person referred to in column (2) of the Table given in rule 3;

(b) Information-Administrator"' means the proper officer specified by the Board for purposes of receipt of the information under section 108A of the Customs Act, 1962 from the authorised person:

(c) "Information Receiving Authority" means an authority referred to in column (4) of the Table as given in rule 3 to receive the information from the class of person referred to in column (2) of the said Table.

(2) Words and expressions used here in and not defined in these rules but defined in the Customs Act. 1962 (52 of 1962) shall have the meaning respectively assigned to them in the Customs Act, 1962.

3. Information to be furnished. - The information required to be furnished under sub section (1) of section 108A of the Customs Act, 1962, shall be furnished electronically by a person mentioned in column (2) of the Table below in respect of the all transactions of the nature specified in the corresponding entry in column (3) of the Table, recorded or received by him to the receiving authority mentioned in column (4) of the said Table.

SNo.	Class of person	Nature of transaction	Receiving Authority
(1)	(2)	(3)	(4)
1.	A Banking Company within the meaning of clause (a) of section 45A of the Reserve Bank of India Act, 1934.	Details of foreign exchange transactions made or received by any person as per Annexure - I.	Directorate of Revenue Intelligence.

4. Format, periodicity and manner of furnishing information-

(a) The Information -Administrator may receive the information and may issue necessary instructions relating to the day to day administration of furnishing of the said information and the said Information Administrator may specify mandatory or non-mandatory fields in the format. periodicity and manner of furnishing information apart from the procedures, data structure and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies:

Provided that till such time the Information-Administrator specifies the modalities for secure capture and transmission of data, the said information may be furnished through a secure, electronic medium to the Information-Administrator.

(b) The information referred to in rule 3 shall be verified and signed by the authorised person.

[F.No.450/33/2017-Cus IV]

Annexure I

(i) For Outwards Remittances

Sr. No.:

Purpose Code:

Remitter Details

Name of Remitter:

Address of Remitter:

PAN of Remitter:

GSTIN No. of Remitter:

AADHAAR No. of Remitter:

IFSC:

Bank Account No.:

Remittee Details

Name of Remittee:

Address of Remittee:

SWIFT BIC:

Bank Account No.:

Amount of Remittances in

Foreign Currency

Name of Currency:

Amount:

Indian Rupee (Amount only):

Mode of Payment (Cash, TT, DD, etc):

Date of Remittance:

Reference documents based on which such remittance is made or sent such as Bill of Entry number along with date, Invoice number along with date or similar documents:

(ii) For Inward Remittances

Sr. No.:

Purpose Code:

Remittee Details

Name of Remittee:

Address of Remittee:

PAN of Remittee:

GSTIN No. of Remittee:

AADHAAR No. of Remittee:

IFSC:

Bank Account No.:

Remitter Details

Name of Remitter:

Address of Remitter:

SWIFT BIC:

Bank Account No.:

Amount of Remittances in

Foreign Currency

Name of Currency:

Amount:

Indian Rupee (Amount only):

Mode of Payment (Cash, TT, DD, etc):

Date of Remittance:

Reference documents based on which such remittance is received such as Shipping Bill number along with date or Invoice number along with date or similar documents: