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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Outstanding export bills monitoring by authorised dealers: escalate and report to RBI; SEZs allowed 12-month repatriation</h1> Authorised dealers must monitor realisation of export bills and, where bills remain outstanding beyond the due date or six months from export, promptly pursue the exporter and, if proceeds are not repatriated or an extension beyond six months is sought, report the matter to the Reserve Bank in the prescribed manner, with the operative effect that such outstanding bills must be escalated and reported. Units in Special Economic Zones are permitted to realise and repatriate full export value within twelve months of export, but authorised dealers must include all export bills outstanding beyond six months in Form XOS and mark 'SEZ' where applicable, with non-compliance attracting penalties under FEMA.
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