TaxTMI 
TaxTMI 
TaxTMI 
Master Circular on Exports of Goods and Services (Updated upto May 14, 2015)
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....ler Category - I banks may refer to respective circulars/ notifications for detailed information, if so needed. Yours faithfully, (C. D. Srinivasan) Chief General Manager INDEX PART-1 A. Introduction PART 2 B. General guidelines for Exports B.1 Exemption from Declarations B.2 Manner of Receipt and Payment B.3 Realisation and Repatriation of proceeds of export of goods / software / services B.4 Foreign Currency Account B.5 Diamond Dollar Account (DDA) B.6 Exchange Earners' Foreign Currency (EEFC) Account B.7 Setting up of Offices Abroad and Acquisition of Immovable Property for Overseas Office B.8 Advance Payments against Exports B.9 EDF Approval for Trade Fair/Exhibitions abroad B.10 EDF approval for Export of Goods for re-imports B.11 Part Drawings /Undrawn Balances B.12 Consignment Exports B.13 Opening / Hiring of Ware houses abroad B.14 Direct dispatch of documents by the exporter B.15 Invoicing of Software Exports B.16 Short Shipments and Shut out Shipments B.17 Counter-Trade Arrangement B.18 Export of Goods on Lease, Hire, etc. B.19 Export on Elongated Credit Terms B.20 Export of goods by Special Economic Zones (SEZs) B.21 Pr....
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....ade Policy in vogue and the Rules framed by the Government of India and the Directions issued by Reserve Bank from time to time. In exercise of the powers conferred by clause (a) of sub-section (1) and sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank has notified the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 relating to export of goods and services from India, hereinafter referred to as the 'Export Regulations'. These Regulations have been notified vide Notification No. FEMA 23/2000-RB dated May 3, 2000, as amended from time to time. (iii) The Directions contained in this Circular should be read with the Rules notified by the Government of India, Ministry of Finance, vide Notification No.G.S.R.381 (E) dated May 3, 2000, (Annex - 1) as also Regulations notified by Reserve Bank vide its Notification No. FEMA 23/2000-RB dated May 3, 2000, as amended from time to time (iv) In terms of Regulation 4 of the Foreign Exchange Management (Guarantees) Regulations, 2000, notified vide Notification No. FEMA 8/2000-RB dated May 3, 2000, AD Category - I banks have been pe....
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....hichever is higher. (iii) Expo of goods not involving any foreign exchange transaction directly or indirectly requires the waiver of EDF procedure from the Reserve Bank. B.2 Manner of Receipt and Payment (i) The amount representing the full export value of the goods exported shall be received through an AD Bank in the manner specified in the Foreign Exchange Management (Manner of Receipt & Payment) Regulations, 2000 notified vide Notification No. FEMA.14/2000-RB dated May 3, 2000 in the following manner: a. Bank draft, pay order, banker's or personal cheques. b. Foreign currency notes/foreign currency travellers' cheques from the buyer during his visit to India. c. Payment out of funds held in the FCNR/NRE account maintained by the buyer d. International Credit Cards of the buyer. Note: When payment for goods sold to overseas buyers during their visits is received in this manner, EDF (duplicate) should be released by the AD Category - I banks only on receipt of funds in their Nostro account or if the AD Category - I bank concerned is not the Credit Card servicing bank, on production of a certificate by the exporter from the Credit Card servicing bank in India to the eff....
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.... for credit to the exporters' account, payment of fee/commission to the OPGSP as per the predetermined rates / frequency/ arrangement; and charge back to the importer where the exporter has failed in discharging his obligations under the sale contract. f. The balances held in the NOSTRO collection account shall be repatriated and credited to the respective exporter's account with a bank in India immediately on receipt of the confirmation from the importer and, in no case, later than seven days from the date of credit to the NOSTRO collection account. g. AD Category -I banks shall satisfy themselves as to the bona-fides of the transactions and ensure that the purpose codes reported to the Reserve Bank in the online payment gateways are appropriate. h. AD Category -I banks shall submit all the relevant information relating to any transaction under this arrangement to the Reserve Bank, as and when advised to do so. i. Each NOSTRO collection account should be subject to reconciliation and audit on a quarterly basis. j. Resolution of all payment related complaints of exporters in India shall remain the responsibility of the OPGSP concerned. k. OPGSPs who are already providing ....
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....oned in the irrevocable order/ invoice has been produced subject to: (i) AD bank should be satisfied with the bona-fides of the transaction and export documents, such as, invoice / FIRC. (ii) AD bank should consider the FATF statements while handling such transaction. b. Third party payment should be routed through the banking channel only; c. The exporter should declare the third party remittance in the Export Declaration Form and it would be responsibility of the Exporter to realize and repatriate the export proceeds from such third party named in the EDF; d. It would be responsibility of the Exporter to realize and repatriate the export proceeds from such third party named in the EDF; e. Reporting of outstanding, if any, in the XOS would continue to be shown against the name of the exporter. However, instead of the name of the overseas buyer from where the proceeds have to be realised, the name of the declared third party should appear in the XOS; f. In case of shipments being made to a country in Group II of Restricted Cover Countries, (e.g. Sudan, Somalia, etc.), payments for the same may be received from an Open Cover Country; and g. In case of imports, the Invoice sh....
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.... the exporter giving details of the bank with which the account will be maintained. (iii) An Indian entity can also open, hold and maintain a foreign currency account with a bank outside India, in the name of its overseas office/branch, by making remittance for the purpose of normal business operations of the said office/branch or representative subject to conditions stipulated in Regulation 7 of Notification No. FEMA 10/2000-RB dated May 3, 2000 and as amended from time to time. (iv) A unit located in a Special Economic Zone (SEZ) may open, hold and maintain a Foreign Currency Account with an AD Category - I bank in India subject to conditions stipulated in Regulation 6 (A) of Notification No. FEMA 10/2000-RB dated May 3, 2000 and as amended from time to time. (v) A person resident in India being a project / service exporter may open, hold and maintain foreign currency account with a bank outside or in India, subject to the standard terms and conditions in the Memorandum PEM. B.5 Diamond Dollar Account (DDA) (i) Under the scheme of Government of India, firms and companies dealing in purchase / sale of rough or cut and polished diamonds / precious metal jewellery plain, minaka....
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....it facilities, either fund-based or non-fund based, shall be permitted against the security of balances held in EEFC accounts by the AD Category - I banks. (iv) All categories of foreign exchange earners are allowed to credit 100% of their foreign exchange earnings to their EEFC Accounts subject to the condition that a) The sum total of the accruals in the account during a calendar month should be converted into Rupees on or before the last day of the succeeding calendar month after adjusting for utilization of the balances for approved purposes or forward commitments. Further, in case of requirements, EEFC account holders are permitted to access the forex market for purchasing foreign exchange. b) The facility of EEFC scheme is intended to enable exchange earners to save on conversion/transaction costs while undertaking forex transactions. This facility is not intended to enable exchange earners to maintain assets in foreign currency, as India is still not fully convertible on Capital Account. (iv) It may be noted that the provisions at paragraph (iv) a) and (iv) b) above will apply, mutatis mutandis, also to holder of either a Resident Foreign Currency Account (Domestic) or a....
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.... surplus should be repatriated to India. (iii) The details of bank accounts opened in the overseas country should be promptly reported to the AD Bank. (iv) AD Category - I banks may also allow remittances by a company incorporated in India having overseas offices, within the above limits for initial and recurring expenses, to acquire immovable property outside India for its business and for residential purpose of its staff. (v) The overseas office / branch of software exporter company/firm may repatriate to India 100 per cent of the contract value of each 'off-site' contract. (vi) In case of companies taking up 'on site' contracts, they should repatriate the profits of such 'on site' contracts after the completion of the said contracts. (vii) An audited yearly statement showing receipts under 'off-site' and 'on-site' contracts undertaken by the overseas office, expenses and repatriation thereon may be sent to the AD Category - I banks. B.8 Advance Payments against Exports (1) In terms of Regulation 16 of Notification No. FEMA 23/2000-RB dated May 3, 2000, where an exporter receives advance payment (with or without interest), from a buyer outside India, the exporter shall be ....
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....the issuance should be rigorously evaluated as any other credit proposal keeping in view, among others, prudential requirements based on board approved policy. b. BG / SBLC may be issued for a term not exceeding two years at a time and further rollover of not more than two years at a time may be allowed subject to satisfaction with relative export performance as per the contract. c. BG / SBLC should cover only the advance on reducing balance basis. d. BG / SBLC issued from India in favour of overseas buyer should not be discounted by the overseas branch / subsidiary of bank in India. (xii) AD Category - I banks may allow the purchase of foreign exchange from the market for refunding advance payment credited to EEFC account only after utilizing the entire balances held in the exporter's EEFC accounts maintained at different branches/banks. Note: AD Category - I banks may also be guided by the Master Circular on Guarantees and Co-acceptances issued by DBOD. (3) 'AD Category- I banks may allow exporters to receive advance payment for export of goods which would take more than one year to manufacture and ship and where the 'export agreement' provides for shipment of goods extendi....
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.... exhibition and sale outside India without the prior approval of the Reserve Bank. Unsold exhibit items may be sold outside the exhibition/trade fair in the same country or in a third country. Such sales at discounted value are also permissible. It would also be permissible to 'gift' unsold goods up to the value of USD 5000 per exporter, per exhibition/trade fair. AD Category - I banks may approve EDF of export items for display or display-cum-sale in trade fairs/exhibitions outside India subject to the following: (i) The exporter shall produce relative Bill of Entry within one month of re-import into India of the unsold items. (ii) The sale proceeds of the items sold are repatriated to India in accordance with the Foreign Exchange Management (Realisation, Repatriation, and Surrender of Foreign Exchange) Regulations, 2000. (iii) The exporter shall report to the AD Category - I banks the method of disposal of all items exported, as well as the repatriation of proceeds to India. (iv) Such transactions approved by the AD Category - I banks will be subject to 100 per cent audit by their internal inspectors/auditors. B.10 EDF approval for Export of Goods for re-imports (i) AD ....
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....xpenses normally incurred towards receipt, storage and sale of the goods, such as landing charges, warehouse rent, handling charges, etc. and remit the net proceeds to the exporter. (iii) The account sales received from the Agent/Consignee should be verified by the AD Category - I banks. Deductions in Account Sales should be supported by bills/receipts in original except in case of petty items like postage/cable charges, stamp duty, etc. (iv) In case the goods are exported on consignment basis, freight and marine insurance must be arranged in India. (v) AD Category - I banks may allow the exporters to abandon the books, which remain unsold at the expiry of the period of the sale contract. Accordingly, the exporters may show the value of the unsold books as deduction from the export proceeds in the Account Sales. B.13 Opening / Hiring of Ware houses abroad AD Category - I banks may consider the applications received from exporters and grant permission for opening / hiring warehouses abroad subject to the following conditions: (i) Applicant's export outstanding does not exceed 5 per cent of exports made during the previous financial year. (ii) Applicant has a minimum export tu....
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....h the AD Category - I bank is fully compliant with the Reserve Bank's extant KYC / AML guidelines. (iv) The AD Category - I bank is satisfied about the bona-fides of the transaction. (v) In case of doubt, the AD Category - I bank may consider filing Suspicious Transaction Report (STR) with FIU_IND (Financial Intelligence Unit in India). B.15 Invoicing of Software Exports (i) For long duration contracts involving series of transmissions, the exporters should bill their overseas clients periodically, i.e., at least once a month or on reaching the 'milestone' as provided in the contract entered into with the overseas client and the last invoice / bill should be raised not later than 15 days from the date of completion of the contract. It would be in order for the exporters to submit a combined SOFTEX form for all the invoices raised on a particular overseas client, including advance remittances received in a month. (ii) Contracts involving only 'one-shot operation', the invoice/bill should be raised within 15 days from the date of transmission. (iii) The exporter should submit declaration in Form SOFTEX in quadruplicate in respect of export of computer software and audio / video....
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.... the credit of the Escrow Account but the funds temporarily rendered surplus may be held in a short-term deposit up to a total period of three months in a year (i.e., in a block of 12 months) and the banks may pay interest at the applicable rate. (iii) No fund based/or non-fund based facilities would be permitted against the balances in the Escrow Account. (iv) Application for permission for opening an Escrow Account may be made by the overseas exporter / organisation through his / their AD Category - I bank to the Regional Office concerned of the Reserve Bank. B.18 Export of Goods on Lease, Hire, etc. Prior approval of the Reserve Bank is required for export of machinery, equipment, etc., on lease, hire basis under agreement with the overseas lessee against collection of lease rentals/hire charges and ultimate re-import. Exporters should apply for necessary permission, through an AD Category - I banks, to the Regional Office concerned of the Reserve Bank, giving full particulars of the goods to be exported. B.19 Export on Elongated Credit Terms Exporters intending to export goods on elongated credit terms may submit their proposals giving full particulars through their banks....
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....f time limit of 30 days for the exporter undertaking Project Exports and Service contracts abroad to submit form DPX1/ PEX-1 /TCS-1 to the Approving Authority (AA) for seeking post award approval will not apply henceforth. (iv) In order to provide greater flexibility to project & service exporters in conducting their overseas transactions, facilities have been provided as under: (a) Inter-Project Transfer of Machinery The stipulation regarding recovery of market value (not less than book value) of the machinery, etc., from the transferee project has been withdrawn. Further, exporters may use the machinery / equipment for performing any other contract secured by them in any country subject to the satisfaction of the sponsoring AD Category - I bank(s) / Exim Bank and also subject to the reporting requirement and would be monitored by the AD Category - I bank(s) / Exim Bank. (b) Inter-Project Transfer of Funds AD Category - I bank(s) / Exim Bank may permit exporters to open, maintain and operate one or more foreign currency account/s in a currency(ies) of their choice with inter-project transferability of funds in any currency or country. The Inter-project transfer of funds will ....
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....s as approved by the authority concerned. B.24 Exports to neighbouring countries by Road, Rail or River The following procedure should be adopted by exporters for filing original copies of EDF where exports are made to neighbouring countries by road, rail or river transport: (i) In case of exports by barges/country craft/road transport, the form should be presented by exporter or his agent at the Customs station at the border through which the vessel or vehicle has to pass before crossing over to the foreign territory. For this purpose, exporter may arrange either to give the form to the person in charge of the vessel or vehicle or forward it to his agent at the border for submission to Customs. (ii) As regards exports by rail, Customs staff has been posted at certain designated railway stations for attending to Customs formalities. They will collect the EDF for goods loaded at these stations so that the goods may move straight on to the foreign country without further formalities at the border. The list of designated railway stations can be obtained from the Railways. For goods loaded at stations other than the designated stations, exporters must arrange to present EDF to the ....
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....completed by the exporter in duplicate and both the copies submitted to the Customs at the port of shipment along with the shipping bill. (iii) Customs will give their running serial number on both the copies after admitting the corresponding shipping bill. The Customs serial number will have ten numerals denoting the code number of the port of shipment, the calendar year and a six- digit running serial number. (iv) Customs will certify the value declared by the exporter on both the copies of the EDF form at the space earmarked and will also record the assessed value. (v) They will then return the duplicate copy of the form to the exporter and retain the original for transmission to the Reserve Bank. (vi) Exporters should submit the duplicate copy of the EDF form again to Customs along with the cargo to be shipped. (vii) After examination of the goods and certifying the quantity passed for shipment on the duplicate copy, Customs will return it to the exporter for submission to the AD Category - I banks for negotiation or collection of export bills. (viii) Within 21 days from the date of export, exporter should lodge the duplicate copy together with relative shipping documents....
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....been opened in favour of the exporter and has been advised through the AD Category - I banks concerned. Or The full value of the shipment has been received in advance by the exporter through an AD Category - I banks. Or The AD Category - I bank is satisfied, on the basis of the standing and track record of the exporter and the arrangements made for realization of the export proceeds, that he could do so. (f) In such cases, particulars of advance payment/letter of credit / AD Category - I bank's certification of standing, etc., of the exporter should be furnished on the form under proper authentication. (g) Any alteration in the name and address of consignee on the EDF form should also be authenticated by the AD Category - I banks under his stamp and signature. C.3.2. Mid-Sea Trans-shipment of catch by Deep Sea Fishing Vessels (i) Since deep sea fishing involves continuous sailing outside the territorial limit, trans-shipment of catches takes place in the high sea leading to procedural constraints in regulatory reporting requirement viz. the Declaration of Export in terms of Notification No.FEMA.23/2000/RB dated May 3, 2000. (ii) For mid-sea trans-shipment of catches by Ind....
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....in 21 days from the date of export. (iii) The AD Category - I banks should accept the Exchange Control (EC) copy of the shipping bill submitted by the exporter for collection/negotiation of shipping documents. (iv) The manner of disposal of EC copy of Shipping Bill is the same as that for EDF. The duplicate copy of the form together with a copy of invoice etc. shall be retained by the AD Category - I banks and may not be submitted to the Reserve Bank. (v) In cases where ECGC and private insurance companies regulated by Insurance Regulatory and Development Authority (IRDA) initially settles the claims of exporters in respect of exports insured with them and subsequently receives the export proceeds from the buyer/buyer's country through the efforts made by them, the share of exporters in the amount so received is disbursed through the bank which had handled the shipping documents. In such cases, ECGC and private insurance companies regulated by IRDA will issue a certificate to the bank, which had handled the relevant shipping documents after full proceeds have been received. The certificate will indicate the number of declaration form, name of the exporter, name of the AD Categor....
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....Certification for EEFC Credits Where a part of the export proceeds are credited to an EEFC account, the export declaration (duplicate) form may be certified as under: "Proceeds amounting to …… representing ….. percent of the export realisation credited to the EEFC account maintained by the exporter with……" C.8 Consolidation of Air Cargo/Sea Cargo (i) Consolidation of Air Cargo (a) Where air cargo is shipped under consolidation, the airline company's Master Airway Bill will be issued to the Consolidating Cargo Agent. The Cargo agent in turn will issue his own House Airway Bills (HAWBs) to individual shippers. (b) AD Category - I banks may negotiate HAWBs only if the relative letter of credit specifically provides for negotiation of these documents in lieu of Airway Bills issued by the airline company. (ii) Consolidation of Sea Cargo (a) AD Category - I banks may accept Forwarder's Cargo Receipts (FCR) issued by IATA approved agents, in lieu of bills of lading, for negotiation / collection of shipping documents, in respect of export transactions backed by letters of credit, if the relative letter of credit specifically provides for negotiati....
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....sis where the sale contract is on f.o.b., f.a.s. etc. basis provided the amount of freight has been included in the invoice and the bill. (vi) To negotiate the documents, in cases where the documents are being negotiated by a person other than the exporter who has signed EDF/SOFTEX Form for the export consignment concerned, after ensuring compliance with Regulation 12 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000. (vii) To accept the variations in the value declared to the customs authorities and that is reflected on the export documents which stem from the terms of contract, on production of documentary evidence after verifying the arithmetical accuracy of the calculations and on conforming the terms of underlying contracts. Some such instances (where the values declared to the customs authorities and that shown on the documents may differ) are enumerated hereunder: (viii) The export realizable value may be more than what was originally declared to/accepted by the Customs on the EDF in certain circumstances such as where in c.i.f. or c. & f. contracts, part or whole of any freight increase taking place after the contract was concluded is agreed....
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.... March). (iii) The bill numbers should be recorded in ENC statement and other relevant returns submitted to the Reserve Bank. C.14 Follow-up of Overdue Bills (i) AD Category - I banks should closely watch realization of bills and in cases where bills remain outstanding, beyond the due date for payment from the date of export, the matter should be promptly taken up with the concerned exporter. If the exporter fails to arrange for delivery of the proceeds within the stipulated period or seek extension of time beyond the stipulated period, the matter should be reported to the Regional Office concerned of the Reserve Bank stating, where possible, the reason for the delay in realizing the proceeds. (ii) The duplicate copies of EDF/SOFTEX Forms should, continue to be held by AD Category - I banks until the full proceeds are realised, except in case of undrawn balances. (iii) AD Category - I banks should follow up export outstanding with exporters systematically and vigorously so that action against defaulting exporters does not get delayed. Any laxity in the follow up of realization of export proceeds by AD Category - I banks will be viewed seriously by the Reserve Bank, leading to ....
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....Bank. (ii) In all such cases of remittances, the exporter should be advised to surrender proportionate export incentives, if any, received by him. C.18 Change of buyer/consignee Prior approval of the Reserve Bank is not required if, after goods have been shipped, they are to be transferred to a buyer other than the original buyer in the event of default by the latter, provided the reduction in value, if any, involved does not exceed 25 per cent of the invoice value and the realization of export proceeds is not delayed beyond the period of 12 months from the date of export. C.19 Extension of Time (i) The Reserve Bank of India has permitted the AD Category - I banks to extend the period of realization of export proceeds beyond 12 months from the date of export, up to a period of six months, at a time, irrespective of the invoice value of the export subject to the following conditions: (a) The export transactions covered by the invoices are not under investigation by Directorate of Enforcement / Central Bureau of Investigation or other investigating agencies, (b) The AD Category - I bank is satisfied that the exporter has not been able to realise export proceeds for reasons bey....
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.... subject to conditions that the relevant amount has remained outstanding for more than one year, satisfactory documentary evidence is furnished in support of the exporter having made all efforts to realize the dues, and the case falls under any of the undernoted categories: (a) The overseas buyer has been declared insolvent and a certificate from the official liquidator indicating that there is no possibility of recovery of export proceeds has been produced. (b) The overseas buyer is not traceable over a reasonably long period of time. (c) The goods exported have been auctioned or destroyed by the Port / Customs / Health authorities in the importing country. (d) The unrealized amount represents the balance due in a case settled through the intervention of the Indian Embassy, Foreign Chamber of Commerce or similar Organization; (e) The unrealized amount represents the undrawn balance of an export bill (not exceeding 10% of the invoice value) remaining outstanding and turned out to be unrealizable despite all efforts made by the exporter; (f) The cost of resorting to legal action would be disproportionate to the unrealized amount of the export bill or where the exporter even af....
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....eyond the above limits, may be referred to the concerned Regional Office of Reserve Bank of India. C.21 Write off in cases of Payment of Claims by ECGC and private insurance companies regulated by Insurance Regulatory and Development Authority (IRDA) (i) AD Category - I banks shall, on an application received from the exporter supported by documentary evidence from the ECGC and private insurance companies regulated by IRDA confirming that the claim in respect of the outstanding bills has been settled by them, write off the relative export bills and delete them from the XOS statement. (ii) Such write-off will not be restricted to the limit of 10 per cent indicated above. (iii) Surrender of incentives, if any, in such cases will be as provided in the Foreign Trade Policy. (iv) The claims settled in rupees by ECGC and private insurance companies regulated by IRDA should not be construed as export realization in foreign exchange. C.22 Write-off - Relaxation As announced in the Foreign Trade Policy (FTP), 2009-14, with effect from August 27, 2009, realisation of export proceeds shall not be insisted upon under any of the Export Promotion Schemes under the said FTP, subject to the....
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....cumented in EDF (O) forms / DTR as the case may be while details of import of goods / services are recorded through A1 / A2 form as the case may be. The relative EDF will be treated as complete by the designated AD Category - I banks only after the entire proceeds are adjusted / received. (iii) Both the transactions of sale and purchase in 'R' - Returns under FET-ERS are reported separately. (iv) The export / import transactions with ACU countries are kept outside the arrangement. (v) All the relevant documents are submitted to the concerned AD Category - I banks who should comply with all the regulatory requirements relating to the transactions. C.25 - Set-off of export receivables against import payables AD category -I banks may deal with the cases of set-off of export receivables against import payables, subject to following terms and conditions: (i) The import is as per the Foreign Trade Policy in force. (ii) Invoices/Bills of Lading/Airway Bills and Exchange Control copies of Bills of Entry for home consumption have been submitted by the importer to the Authorized Dealer bank. (iii) Payment for the import is still outstanding in the books of the importer. (iv) Both th....
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....onsider requests for refund of export proceeds of goods exported from India and being re-imported into India on account of poor quality. While permitting such transactions, AD Category - I banks are required to : (i) Exercise due diligence regarding the track record of the exporter (ii) Verify the bona-fides of the transactions (iii) Obtain from the exporter a certificate issued by DGFT / Custom authorities that no incentives have been availed by the exporter against the relevant export or the proportionate incentives availed, if any, for the relevant export have been surrendered (iv) Obtain an undertaking from the exporter that the goods will be re-imported within three months from the date of remittance and (v) Ensure that all procedures as applicable to normal imports are adhered to. C.28 Exporters' Caution List (i) AD Category - I banks will also be advised whenever exporters are cautioned in terms of provisions contained in Regulation 17 of "Export Regulations" (Annex 2). They may approve EDF of exporters who have been placed on caution list if the exporters concerned produce evidence of having received an advance payment or an irrevocable letter of credit in their favo....
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....Export of Goods and Services July 4, 2002 16 A.P. (DIR Series) Circular No.10) Export of Goods and Services - Facilities to units in Special Economic Zones (SEZs August 14, 2002 17 A.P. (DIR Series) Circular No.11 Exchange Earners' Foreign Currency (EEFC) Account Scheme - Amendment August 14, 2002 18 A.P. (DIR Series) Circular No.12 Export of Goods and Services August 28, 2002 19 A.P. (DIR Series) Circular No.21 Disposal of duplicate copies of Export Declaration Forms September 16, 2002 20 A.P. (DIR Series) Circular No.28) Opening, holding and maintaining Foreign Currency Account in India by Unit in Special Economic Zones (SEZs October 3, 2002 21 A.P. (DIR Series) Circular No.33 Export of Goods and Services October 23, 2002 22 A.P. (DIR Series) Circular No.34 Exchange Earners' Foreign Currency (EEFC) Account Scheme October 31, 2002 23 A.P. (DIR Series) Circular No.41 Issue of Corporate Guarantee in lieu of Bid Bond Guarantee November 8, 2002 24 A.P. (DIR Series) Circular No.61 "Write-off" of unrealised export bills-Surrender of export incentives December 14, 2002 25 A.P. (DIR Series) Circular No.62 Exchange Earners' Foreign ....
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....e 21, 2004 46 A.P. (DIR Series) Circular No.9 Foreign Exchange Management Act, 1999 September 1, 2004 47 A.P. (DIR Series) Circular No.10 Export of Goods and Services to Latin American Countries September 13, 2004 48 A.P. (DIR Series) Circular No.25 Period of Realisation for 100% EOUs Extended to One Year November 1, 2004 49 A,P. (DIR Series) Circular No.21 Export of Goods and Services - Liberalisation - GR Approval for export January 10, 2006 50 A.P. (DIR Series) Circular No.31 Export of Goods and Services - Extension of period of realization April 21, 2006 51 A.P. (DIR Series) Circular No.32 Remittance of initial and recurring expenses for Branch offices opened abroad April 21, 2006 52 A.P. (DIR Series) Circular No.15 Exchange Earner's Foreign Currency (EEFC) Account-Liberalisation of Procedure November 30, 2006 53 A.P. (DIR Series) Circular No.18 Establishment of Offices Abroad December 4, 2006 54 A.P. (DIR Series) Circular No.26 Liberalisations in Project and Service Exports January 8, 2007 55 A.P. (DIR Series) Circular No.33 Liberalisation of Export and Import procedures February 28, 2007 56 A.P. (DIR Series) Circular No.37 Export....
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....ways - Enhancement of the value of transaction October 14, 2011 75 A.P. (DIR Series) Circular No.40 Export of Goods and Software - Realisation and Repatriation of export proceeds - Liberalisation November 01, 2011 76 A.P. (DIR Series) Circular No.47 "Set-off" of export receivables against import payables - Liberalization of Procedure November 17, 2011 77 A.P. (DIR Series) Circular No.48 Mid - Sea Trans-shipment of catch by Deep Sea Fishing Vessel November 21, 2011 78 A.P. (DIR Series) Circular No.65 Export of Goods and Services - Forwarder's Cargo Receipt January 12, 2012 79 A.P. (DIR Series) Circular No.73 Opening of Diamond Dollar Accounts (DDAs January 31, 2012 80 A.P. (DIR Series) Circular No.80 Export of Goods and Services- Simplification and Revision of Softex Procedure February 15, 2012 81 A.P. (DIR Series) Circular No.81 Export of Goods and Services - Receipt of advance payment for export of goods Involving shipment (manufacture and ship) beyond one year February 21, 2012 82 A.P. (DIR Series) Circular No.92 Opening of Diamond Dollar Accounts (DDAs) - Change in periodicity of the reporting March 13, 2012 83 A.P. (DIR Series) Circular No.124....