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of <h1>RBI Allows 10% Invoice Reduction for Exports Including Gold, Silver, and Diamonds Under FEMA Sections 10(4) & 11(1.</h1> The Reserve Bank of India issued a circular to authorized dealers in foreign exchange regarding the Foreign Exchange Management Act, 1999, specifically about the reduction in invoice value for exports. Previously, reductions were allowed for goods excluding gold, silver jewelry, or articles made from cut and polished diamonds. The new directive permits authorized dealers to approve reductions up to 10% in invoice values for exports, including those involving gold, silver jewelry, or diamond articles. Other conditions from the previous circular remain unchanged. This directive is issued under Sections 10(4) and 11(1) of the Act.
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