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FDI: Treatment and operations, nes
On 30 June 2011, the Reserve Bank of India permitted the issue of equity/preference shares under the Government route of the FDI scheme for certain categories of transactions.
The following transactions are eligible under this measure -
i) Import of capital goods/ machineries / equipments (including second-hand machineries) under certain conditions
ii) Pre-operative/pre-incorporation expenses (including payments of rent etc.) subject to compliance of necessary conditions.
A successful application requires approval by the Government subject to pricing guidelines and appropriate tax clearance.
As of 8 May 2012, import of second hand machineries under this measure has been disallowed.
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