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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Export proceeds, repatriation and invoice adjustment rules expanded for AD Category-I banks; longer realization periods and larger write-offs allowed</h1> AD Category-I banks are authorised to extend realization periods for export proceeds beyond six months up to six months at a time regardless of invoice value, subject to specified conditions, permitting longer recovery timelines for exporters. Status Holder exporters may write off outstanding export dues up to the higher of (i) 5% of average annual realizations in the preceding three financial years or (ii) 10% of export proceeds due in the financial year, allowing larger statutory write-offs. The mandatory 30% repatriation requirement for on-site software contracts is removed, requiring only repatriation of profits on completion, increasing repatriation flexibility. AD Category-I banks may approve invoice value reductions up to 25%, enabling resale/settlement adjustments. For import documents received directly, credit reports on overseas suppliers need not be obtained where invoice value = USD 100,000, subject to bank satisfaction of bonafides. 'Financial year' (April-March) is established as the uniform time base for trade-related eligibilities.
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