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Whether remittance under the Scheme is on gross basis or net basis (net of repatriation from abroad)?

April 26, 2017abroad basis gross NET remittance Repatriation Scheme

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Whether remittance under the Scheme is on gross basis or net basis (net of repatriation from abroad)?

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Remittance under this scheme is on a gross basis. For e.g. If an investor has remitted USD 200,000 at the start of the year and has during the course of the year brought back USD 50,000, then the investor cannot claim to have the right to remit this USD 50,000 again under LRS in the same year.