RBI NOTIFICATION-ALL NEW
FILINGS FOR FC-GPR , FC-TRS , LLP-I , LLP-II AND CN WILL BE IN SMF ONLY W.E.F
SEPTEMBER 01, 2018. FC-GPR AND FC-TRS SHALL NOT BE FILED ON EBIZ
PENDING FCGPR/ FCTRS IN e-biz
As
you aware , RBI with the objective of integrating extant reporting structure of
various types of foreign investment in India would introduce a Single Master
Form (SMF) which would be available online from September 1 ,2018.
Hitherafter FCGPR –FCTRS has
to be filed in Form SMF
Hitherafter
, all FEMA compliances and reporting to
be made through RBI website https://firms.rbi.org.in in
Form SMF.
NO MORE AVAILABILITY OF e-biz
PORTAL FOR FILING
At
present , FCGPR / FCTRS filing is carried through on e-biz portal. Due to
launching of SMF portal on 1 Septemeber ,2018 , e-biz portal would no longer be
available for filing. All the Banks are
advised to all filings pending for disposal in the e-biz portal at the earliest
on or before 20 Septemebr 2018. All Banks should send a weekly report to this
effect has to be forwarded to Regional
Office , RBI , FED giving detaisl fo cases pending and cases cleared , for
monitoring.
ALL PENDING FILING CASES
Further
, it is also observed that many cases are
pending at the company / entity level for resubmission with clarification or
additional documents. You are therefore , advised to immediately inform all
your clients who have received foreign investment to ensure that cases where
resubmission was to be done should be done within one week with complete
documents failing which it would not be possible for us to treat the FCGPR as
filed.
To Provide Reasons for not
Filing
Further,
where the entities have not been able to register for the Entity master, they
may do so from September 01, 2018. However, they may provide the reasons for
not registering within the time period along with the authority letter.
Ref
: RBI Circular FE.CO.FID/1282/10/02/035/2018-19 dated 31 August ,2018
