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<h1>RBI's Master Circular on Export of Goods and Services under FEMA 1999 Valid Until July 1, 2008.</h1> The Master Circular on Export of Goods and Services, issued by the Reserve Bank of India on July 2, 2007, consolidates existing instructions regarding the export of goods and services from India under the Foreign Exchange Management Act of 1999. It is structured into five parts: an introduction, general guidelines for exports, operational guidelines for authorized dealer banks, annexes with notifications and forms, and a list of all consolidated circulars. This circular is valid for one year, expiring on July 1, 2008, after which it will be replaced by an updated version.