I own a small Private limited company in India. And I just received some inward remittance from abroad. Where my bank charged me for using forex services provided them which is almost towards the 1% of the total remittance. I was going through laws and regulations which could help me waive of the 1% charge. I found LRS, which might help me waive of the charge, but I don't know if pvt ltd company are included in the umbrella.
So this question came from the problem where the bank conversion rate is already like 1 or 2 INR less than what i see on google. And now they are even charging me more for the conversion.