Barter trade restrictions require imports to precede exports and non-monetary settlement under prescribed documentation and bank monitoring. Barter trade with Myanmar operates as a non-monetary, land-route exchange limited to specified commodities, requiring imports to precede exports and invoicing in U.S. dollars. Designated bank branches must countersign GR forms, verify import evidence, maintain prescribed registers and send certified monthly statements to the Reserve Bank's Exchange Control Department; on completion they must surrender duplicate GR forms with import evidence. Small-value export transactions receive simplified declaration treatment but must be completed quickly and are reported by customs. Transactions are excluded from R Returns and are governed by the Foreign Exchange Management Act.
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Provisions expressly mentioned in the judgment/order text.
Barter trade restrictions require imports to precede exports and non-monetary settlement under prescribed documentation and bank monitoring.
Barter trade with Myanmar operates as a non-monetary, land-route exchange limited to specified commodities, requiring imports to precede exports and invoicing in U.S. dollars. Designated bank branches must countersign GR forms, verify import evidence, maintain prescribed registers and send certified monthly statements to the Reserve Bank's Exchange Control Department; on completion they must surrender duplicate GR forms with import evidence. Small-value export transactions receive simplified declaration treatment but must be completed quickly and are reported by customs. Transactions are excluded from R Returns and are governed by the Foreign Exchange Management Act.
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