Export of Goods and Software – Realisation and Repatriation of export proceeds – Liberalisation

Repatriation period liberalisation allows twelve month realisation of export proceeds, extending the compliance window for exporters and banks.

The circular extends an administrative liberalisation allowing AD Category I banks to permit realization and repatriation of the full export value of goods or software within a twelve month period from the date of export for a specified temporary window, leaves SEZ and external warehouse export provisions unchanged, and directs banks to inform constituents while noting that the directions are issued under statutory foreign exchange powers and do not affect other legal permissions or approvals.