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of <h1>RBI Simplifies Export Procedures: Self-Write-Off and Extended Realization for Exporters with 10% Limit Compliance.</h1> The Reserve Bank of India issued a circular to authorized dealers in foreign exchange, simplifying procedures for exporters regarding the write-off, reduction in invoice value, and extension of time for realizing export proceeds. Exporters can self-write-off or extend realization periods for up to 10% of export proceeds due in a calendar year, provided these bills are not under investigation. This facility applies to exports after July 1, 2003, with proceeds due from January 1, 2004. Exporters must submit an annual statement of export performance to the authorized dealer, who will verify compliance with the 10% limit. Non-compliance may result in withdrawal of the self-write-off facility.
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