Issue of Indian Currency Note- Foreign going vessels- CBEC Instructions
BY Circular No. 51/99 dated 12.08.1999, CBEC had allowed 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.
Now, Board has come to know that 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 Circular No. 51/1999 dated 12.08.1999.
CBEC Circular No.7/2016-Cus, Dated: March 07, 2016