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of <h1>RBI Updates Import Guidelines: Accept Verified Photocopies of 'Ex-Bond Bill of Entry' as Final Import Evidence Under FEMA 1999.</h1> The Reserve Bank of India has issued a circular to authorized dealers in foreign exchange regarding the import of goods into India under the Foreign Exchange Management Act, 1999. The circular references previous guidelines allowing the acceptance of 'Into-Bond Bill of Entry' as provisional evidence of import. With the implementation of the EDI system by customs, the procedure for issuing Bills of Entry has changed, eliminating the Exchange Control copy. Instead, authorized dealers are advised to accept a verified photocopy of the 'ex-Bond Bill of Entry' as final evidence of import. These instructions are issued under specific sections of the Foreign Exchange Management Act, 1999.
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