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Wednesday, July 1, 2009

Within 12 months of Export of Goods and Software, Realise & Repatriate export Proceeds till 30th June 2010 now - RBI liberalises

Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P.(DIR Series) Circular No.50 dated June 5, 2008, enhancing the period of realisation and repatriation to India of the amount representing the full export value of goods or software exported, from six months to twelve months from the date of export, subject to review after one year.

2. The issue has since been reviewed and it has been decided in consultation with Government of India to extend the above relaxation for a further period of one year i.e. up to June 30, 2010, subject to review.

3. The provisions in regard to period of realisation and repatriation to India of the full export value of goods or software exported by a unit situated in Special Economic Zone (SEZ) as well as exports made to warehouses established outside India remains unchanged.

Source: RBI/2008-09/ 516 A.P. (DIR Series) Circular No.70 dated 30th July 2009

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