https://www.taxtmi.com/article/detailed?id=11421 The document sets out the regulatory conditions for AD banks to allow set-off of export receivables against import payables under RBI circulars (2011 and 2020), including requirements on documentation, KYC/AML/CFT checks, same year matching of legs, separate gross reporting, and enforceable agreements for group settlements. The 2023 Foreign Trade Policy Procedure adds a key change: specific RBI permission is now required, Appendix 2L replaces bank realization reports, and CA/Cost Accountant certification plus supporting documents must accompany any offsetting request. en-us Mon, 22 May 2023 13:44:02 +0530 Mon, 22 May 2023 13:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11421 The document sets out the regulatory conditions for AD banks to allow set-off of export receivables against import payables under RBI circulars (2011 and 2020), including requirements on documentation, KYC/AML/CFT checks, same year matching of legs, separate gross reporting, and enforceable agreements for group settlements. The 2023 Foreign Trade Policy Procedure adds a key change: specific RBI permission is now required, Appendix 2L replaces bank realization reports, and CA/Cost Accountant certification plus supporting documents must accompany any offsetting request. Articles FEMA - Foreign Exchange Management Mon, 22 May 2023 13:44:02 +0530 https://www.taxtmi.com/article/detailed?id=11421