FC-GPR/FC-TRS/FLA Return

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The literal meaning of Form FC-TRS is Foreign Currency Transfer of Shares. This form is filed in case of transfer of shares of an Indian Company from a resident to a Non-Resident/Non-Resident Indian and vice versa through its authorised dealer bank (AD Category-1 Bank).

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The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted directly by all the Indian companies which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e. who holds foreign Assets or Liabilities in their Balance Sheets.
Form FC-GPR is issued by the Reserve Bank of India (RBI) when the Company receives a foreign investment, and against such investment, the Company will allot shares to a foreign investor, then it is mandatory for the Company to file details of such allotment of shares using the form FC-GPR.

Applicability of FLA return

The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted by the following entities which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e. who holds foreign assets or/and liabilities in their balance sheets;
● A Company within the meaning of section 1(4) of the Companies Act, 2013
● A Limited Liability Partnership (LLP) registered under the Limited Liability Partnership Act, 2008
● Others [include SEBI registered Alternative Investment Funds (AIFs), Partnership Firms, Public Private Partnerships (PPP) etc.

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    Know more about it...

    FC-GPR (Foreign Currency Gross Provisional Return)

    The form FC-TRS shall be filed with the Authorised Dealer bank within Sixty days transfer of capital instruments or receipt/remittance of funds whichever is earlier.

    Form FC-TRS is filed in case of transfer of shares or convertible debentures of an Indian Company from a resident to a Non-Resident/Non-Resident Indian and vice versa by way of sale.

    The onus of reporting FC-TRS shall be on the resident transferor/ transferee or the person resident outside India holding capital instruments on a non-repatriable basis.

    INR 5000 or. 1 % of the total amount of investment, which can up to a maximum of 5 lakh or. Part thereof for the first six months of delay and after that rate will be 2 times.

    There is no government fee for filing this form.

    A late submission fee will be charged on delayed filing of the Form FC-GPR. This fee depends on the amount of investment raised by the company through that allotment of securities.

    You are required to submit only the filled-in Excel based format of FLA by email before due date. Financial statements or any information in separate annex should not be forwarded along with the FLA return.