Introduction of SMF By RBI

[Sonia Yadav]

Dear Members,

After introduction of SMF, do we still need to file Advance Remittance form.. If yes then where??

Previously we use to file on EBIZZ.

Regards

Sonia

[Umesh Vyas]

Regards,

Dear Sonia, 

SMF (Single Master Form) subsume following forms:

Form-FC-GPR   Issue of Capital by Indian Co. to Person resident outside India

Form FC-TRS   Transfer of Capital Instrument by  person resident in India to person resident outside India

Form LLP-I        FDI in LLP through Capital contribution and profit sharing 

Form LLP-II       Divestment/transfer of capital contributionn and profit sharing in LLP   

Form ESO         Issue of ESOP /Sweat Equity shares by Indian company to its foreign employee 

Form CN            Issue or transfer of convertible notes

Form-DRR        Issue/transfer of depository receipt

Form DI             Reporting of downstream investment (Indirect foreign investment) in a company or LLP

Form In-Vi          Reporting of investment by a person outside India in an Investment vehicle.

Thus this SMF is multipurpose form covering all above reporting.

If you have any query, please share with me.

 

With Best Regards,

For Umesh Vyas & Associates

Umesh Vyas.

B.Com., LL.M., ACS

Practising Company Secretary.

Mob.:09427630539

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[Umesh Vyas]

Dear Professional Colleagues.

With reference to the trailing mail,please note:

Following forms have not been subsumed and will be reported separately:

• Advance Remittance Form (ARF): Reporting of an amount of consideration received for issue of capital instruments. Know Your Customer (KYC) Form is also submitted along with the same. This is submitted on the ebiz portal; 
• RBI help Desk  022 – 22601000 - Extn: 2617).

(* Please check RBI User Manual attached herewith 

• Annual Return on Foreign Liabilities and Assets (FLA): Submitted annually on or before the 15th day of July of each year. This is submitted by way of an email to f...@rbi.org.in

• Form LEC(FII): The AD banks have to ensure that the FPIs registered with SEBI who are purchasing various securities (except derivative and IDRs) should report all such transactions details (except derivative and IDRs) in the Form LEC (FII) to Foreign Exchange Department, Reserve Bank of India, Central Office.

• LEC(NRI): The Authorised Dealer Category I banks shall report to the Reserve Bank in Form LEC (NRI) the purchase/ transfer of capital instruments by Non-Resident Indians or Overseas Citizens of India stock exchanges in India. 

With Best Regards,

For Umesh Vyas & Associates

Umesh Vyas.

B.Com., LL.M., ACS

Practising Company Secretary.

Mob.:09427630539