TaxTMI 
TaxTMI 
Exemption from Declarations – Goods sent for testing abroad subject to re-import – instructions reg
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.... abroad subject to re-import – instructions reg. I am directed to state that Reserve Bank of India, vide regulation 4(k) of Notification No.FEMA 36/2001-RB, dated the 27th February, 2001, waived the requirement of declaration on GR form in respect of goods sent outside India (i) for testing subject to their re-import into India or (ii) repair and re-import subject to certain conditions. A copy....
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....o time, namely:- 1. (i) These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2001. (ii) They shall come into force with immediate effect. 2. In the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 (hereinafter referred as to "the said Regulations", (i) in Regulation 4, (a) in clause (i), after the w....
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.... and re-import and that the export does not involve any transaction in foreign exchange; (m) exports permitted by the Reserve Bank, on application made to it, subject to the terms and conditions, if any, as stipulated in the permission." (ii) in Regulation 6 of the said Regulations, in sub-regulation (3), for clause (i), the following clause shall be substituted, namely:- "(i) The declaration i....
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....f goods or software shall be realized and repatriated to India within twelve months from the date of export; Provided that the Reserve Bank may for a sufficient and reasonable cause shown, extend the said period of twelve months. (b) The Reserve Bank may for reasonable and sufficient cause direct that the unit shall cease to be governed by sub-regulation (2); Provided that no such direction sha....