Extension of export realisation period to 360 days for specified countries, temporarily altering repatriation compliance obligations. Reserve Bank temporarily extended the period for realisation and repatriation of full export value for goods and software from six months to 360 days for exports to listed countries, effective for one year for exports made on or after September 1, 2001; thereafter the six-month period resumes. The measure is issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999, and authorised dealers must notify constituents and ensure compliance, with penalties for contravention under the Act.
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Extension of export realisation period to 360 days for specified countries, temporarily altering repatriation compliance obligations.
Reserve Bank temporarily extended the period for realisation and repatriation of full export value for goods and software from six months to 360 days for exports to listed countries, effective for one year for exports made on or after September 1, 2001; thereafter the six-month period resumes. The measure is issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999, and authorised dealers must notify constituents and ensure compliance, with penalties for contravention under the Act.
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