Acceptance of cash payments (in Foreign Currency Notes), for the purpose of fulfillment of export obligation (EO) by Service Providers under EPCG Scheme; as well as for eligibility for SFIS scrips

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.... Dated: 25th March 2010 To Jt. DGFTs, All RAs Subject: Acceptance of cash payments (in Foreign Currency Notes), for the purpose of fulfillment of export obligation (EO) by Service Providers under EPCG Scheme; as well as for eligibility for SFIS scrips. Representations have been received from Regional Authorities and Service Providers seeking clarification as to the guidelines for issuance of....

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....currency notes towards export obligation of EPCG. Such earnings of foreign exchange shall also be entitled for SFIS scheme. In such cases, the Service Provider as per RBI rules surrenders the foreign currency notes to Authorized Persons (APs , including the APs' franchises). However, for claiming benefit, of such foreign exchange received in cash by the service provider under the EPCG or SFIS sche....