Extension of time for realisation of export proceeds: authorised bank extensions permitted subject to prescribed conditions. AD Category I banks are authorised to extend time for realisation of export proceeds up to six months at a time irrespective of invoice value, subject to conditions including no investigation, bank satisfaction on justifications, exporter declaration, and aggregate outstanding limits when extensions exceed one year; Status Holder exporters' write off entitlement is consolidated to the higher of two prescribed percentage measures; mandatory repatriation of a fixed share of on site software contract receipts is removed while profits must be repatriated after completion; invoice value reductions up to twenty five percent are permitted and credit report requirements for certain low value import documents are relaxed, with financial year adopted as uniform time base.
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Extension of time for realisation of export proceeds: authorised bank extensions permitted subject to prescribed conditions.
AD Category I banks are authorised to extend time for realisation of export proceeds up to six months at a time irrespective of invoice value, subject to conditions including no investigation, bank satisfaction on justifications, exporter declaration, and aggregate outstanding limits when extensions exceed one year; Status Holder exporters' write off entitlement is consolidated to the higher of two prescribed percentage measures; mandatory repatriation of a fixed share of on site software contract receipts is removed while profits must be repatriated after completion; invoice value reductions up to twenty five percent are permitted and credit report requirements for certain low value import documents are relaxed, with financial year adopted as uniform time base.
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