Export of goods & services –Extension of period of realisation

Extension of export realisation period lets authorised dealers grant limited time extensions without central approval under FEMA.

Authorised dealers who handled export documents may grant time-limited extensions for realisation of export proceeds without Reserve Bank approval for consignments below the prescribed invoice threshold, provided the exporter applies, declares intent to realise proceeds, and the dealer is satisfied the delay is for reasons beyond the exporter's control; extensions may be granted in three-month increments and extensions beyond one year require that the exporter's outstanding exports remain within prescribed limits. Cases under investigation or above the invoice threshold require regional Reserve Bank approval, and suits filed abroad permit longer extensions.