I am directed to refer to Board’s Circular No. 22/99-Cus. dated 7-5-1999 on the above-mentioned subject. It was clarified that the Customs authorities may clear the import of both Indian and foreign currencies received through ‘post’ by residents provided the value did not exceed Rs. 1,000/- and also subject to certain conditions.

In view of the liberalizations made under Foreign Exchange Management Act (FEMA), 1999 the matter has been reviewed by RBI and the existing limit of Rs. 1000/- has since been enhanced to Rs.5000/- subject to the conditions mentioned in Board’s Circular 22/99-Cus. dated 7-5-99.

These instructions may be brought to the notice of all concerned by way of issue of Public Notices etc. Any difficulty faced in implementation of instructions may be brought to the notice of the Board.

F.No. 446/24/99-CUS.IV