https://www.taxtmi.com/article/detailed?id=14285 Exporters bear a statutory duty under Sections 7 and 8 of FEMA to declare full export value and to take all reasonable steps to realise and repatriate foreign exchange to India through an Authorized Dealer within RBI-prescribed timelines. Failure to comply is a contravention attracting penalties under Section 13, including enhanced and daily penalties for continuing offences, while compounding under Section 15 permits regularisation by payment of a fee. Remedial measures include seeking extension or write-off via the AD bank and voluntary disclosure; procedural templates for extension and compounding applications are provided. en-us Fri, 02 May 2025 08:55:19 +0530 Fri, 02 May 2025 08:55:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14285 Exporters bear a statutory duty under Sections 7 and 8 of FEMA to declare full export value and to take all reasonable steps to realise and repatriate foreign exchange to India through an Authorized Dealer within RBI-prescribed timelines. Failure to comply is a contravention attracting penalties under Section 13, including enhanced and daily penalties for continuing offences, while compounding under Section 15 permits regularisation by payment of a fee. Remedial measures include seeking extension or write-off via the AD bank and voluntary disclosure; procedural templates for extension and compounding applications are provided. Articles FEMA - Foreign Exchange Management Fri, 02 May 2025 08:55:19 +0530 https://www.taxtmi.com/article/detailed?id=14285