Time Limit for Export

[Kaustubh Karandikar]

In case of

1) Export of Goods and

2) Export of Services, what is the time limit for realizing the amount in foreign currency?

3) Time limit for exporting the services

4) Time limit for export of goods.

What are the relevant Provisions under which it is mentioned?

[Shilpi Jain]

Time limit to realise forex

Export of goods - as allowed under FEMA

Export of services - 1 year

Time limit for export of goods - says 3 months

Pls see rules

[Kaustubh Karandikar]

Thanks shilpi ji for your kind advice. What is allowed under FEMA?

[JAIPRAKASH RUIA]

Export of Goods and Services- Realisation and Repatriation of Export Proceeds-Relaxation

RBI/2019-20/206 A. P. (DIR Series) Circular No. 27 April 01, 2020

AI Summary

Clarification on Time Limits for Foreign Currency Realization Under GST: Goods Follow FEMA, Services Have One-Year Limit. A discussion forum addressed the time limits for realizing foreign currency from the export of goods and services under the Goods and Services Tax (GST). One participant clarified that the time limit for realizing foreign exchange for goods is as allowed under the Foreign Exchange Management Act (FEMA), while for services, it is one year. The time limit for exporting goods is three months. Another participant mentioned a relaxation in the realization and repatriation of export proceeds as per an RBI circular from April 2020. The conversation aimed to clarify these regulatory provisions.