CBEC vide Circular No. 51/99 dated 12.08.1999 had allowed Merchant Ship to carry Indian currency notes of Rs. 100/-denomination for disbursement of wages etc. on board of foreign going vessel Now vide Circular No. 7/2016-Cus., Dated: March 7, 2016 in light of revised RBI guidelines, the restriction on denomination of Indian currency imposed vide earlier Circular has been withdrawn.
Circular No. 7/2016-Customs
F.No.450/172/2015-CUS-IV
Government of India
Ministry of Finance
Department of Revenue
Central Board of Excise & Customs
Dated the 7th March, 2016
Subject: – Issue of Indian Currency Note- Foreign going vessels-Instructions
Kind reference is invited to Boards Circular No. 51/99 dated 12.08.1999 on the subject cited above wherein Board had decided to allow Merchant Ship to carry Indian currency notes of Rs. 100/-denomination for disbursement of wages etc. on board of foreign going vessel, subject to the usual conditions prescribed by RBI.
2. It has been brought to notice of the Board that revised guidelines issued by RBI has not prescribed any restriction on denomination of Indian currency, carried by an Indian traveller or Captain of a Ship. In the light of the revised RBI guidelines, Board has decided to withdraw the restriction on denomination of Indian currency imposed vide earlier Circular No. 51/1999 dated 12.08.1999.
3. Suitable Public Notices may be issued by the jurisdictional Chief Commissioners.
4. Difficulty faced in this regard, if any, may be brought to the notice of the Board.
(Zubair Riaz)
Director (Customs)
