Overview
FEMA violations compound
every day they continue.
The Foreign Exchange Management Act governs every cross-border transaction by Indian companies: export receipts, import payments, foreign investment inflows, outward remittances, and overseas direct investment. Non-compliance is not a one-time penalty. Under Section 13, violations attract daily compounding penalties up to three times the amount involved.
Our FEMA audit covers export BRC/FIRC realisation compliance, FC-GPR and FC-TRS filing for foreign investment, outward remittance documentation under Liberalised Remittance Scheme and ODI regulations, and DGFT scheme compliance for exporters.
Why This Matters
RBI enforcement actions against FEMA violations have increased sharply since 2022. Exporters who have not realised proceeds within the prescribed period, companies that received FDI without filing FC-GPR, or those making outward remittances without proper documentation face compounding applications and adjudication. We identify all open FEMA obligations.
What We Audit
🌐
Export Realisation Review
All export proceeds verified for timely realisation within prescribed period. BRC and FIRC documentation reviewed.
💱
FC-GPR and FC-TRS Filing
Foreign investment receipts mapped to FC-GPR filings. Share transfers to/from NRI verified against FC-TRS.
💸
Outward Remittance Audit
All outward remittances reviewed for Form 15CA/CB compliance, LRS documentation, and purpose classification.
🏭
ODI Compliance Review
Overseas direct investments reviewed for APR (Annual Performance Report) filing compliance.
📋
DGFT Scheme Compliance
Advance Authorisation, EPCG, and MEIS/RoDTEP scheme compliance verified against export obligations.
🔍
Branch/Liaison Office Review
Branch office or liaison office annual activity certificate filings verified if applicable.
What You Receive
FEMA Compliance Register - Complete mapping of all foreign exchange transactions against regulatory obligations with gap analysis.
Pending Realisation Report - All unrealised export proceeds listed with age, amount, and prescribed deadline.
Compounding Exposure Assessment - Violations identified with compounding penalty quantum estimated per RBI Master Direction.
Filing Gap Report - All pending FC-GPR, FC-TRS, APR, and DGFT filings listed with remediation priority.
Compounding Application Draft - Where voluntary compounding is recommended, draft application prepared.
30-Day Support - Advisory on RBI/ED correspondence and compounding process at no additional charge.