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    Amendments to Foreign Exchange Management (Non-Debt Instruments) Rules, 2019  The Ministry of Finance has recently notified amendments to the Foreign Exchange Management (Non- Debt Instruments) Rules, 2019 (‘NDI Rules’) vide the Foreign
Aurtus Direct Tax Alert Shailendra padhiyar Aurtus Direct Tax Alert Shailendra padhiyar

The Ministry of Finance has recently notified amendments to the Foreign Exchange Management (Non- Debt Instruments) Rules, 2019 (‘NDI Rules’) vide the Foreign Exchange Management (Non-Debt Instruments) (Fourth Amendment) Rules, 2024 (‘Amendment’). The key amendments are summarized below:

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    Import of components/ parts/ sub-assemblies of the motor vehicle are to be classified under their respective heading/ sub-heading under the Customs Tariff Act, 1974  M/s BMW India Private Limited [‘BMW’] is a wholly owned subsidiary of
Aurtus Indirect Tax Alert Shailendra padhiyar Aurtus Indirect Tax Alert Shailendra padhiyar

M/s BMW India Private Limited [‘BMW’] is a wholly owned subsidiary of M/s Bayerische Motoren Werke Holding B.V., Netherlands and M/s Bayerische Motoren Werke, Aktiengesellschaft, Germany [‘Collectively referred as Parent Company’]. The parent company is engaged in the business of the manufacture and sale of ‘BMW cars’ outside India.

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