Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026.

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....ations, unless the context requires otherwise, - (a) "Act" means the Foreign Exchange Management Act, 1999 (42 of 1999); (b) "Authorised Dealer" means a person authorised as an authorised dealer under sub- section (1) of Section 10 of the Act; (c) "Export Declaration Form" (EDF) means the form given at Annex; (d) "Project Export" shall have the same meaning as defined in the Foreign Trade Policy; (e) "Software" means any computer programme, database, drawing, design, audio/video signals, any information by whatever name called in or on any medium other than in or on any physical medium; (f) "Specified authority" means: (i) Commissioner of Customs in Domestic Tariff Area (DTA) and Development Commissioner of Special Economic Zone (SEZ) in SEZ, for goods; (ii) An Authorised Dealer in DTA and Development Commissioner of Special Economic Zone (SEZ) in SEZ, for services other than software; and (iii) An Authorised Dealer or Software Technology Parks of India (STPI) in DTA, and Development Commissioner of Special Economic Zone (SEZ) in SEZ, for software. Explanation. - For the purpose of these regulations, 'services' shall also include 'softwa....

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....t Data Processing and Monitoring System (EDPMS or IDPMS) [EDPMS and IDPMS shall also refer to any other system specified by RBI, for the purpose]: Provided that in the case of export where the shipping bill (for goods) or invoice (for services) is up to Rs.10 lakh (or its equivalent in foreign currency), entry in EDPMS may be closed based on a declaration from the exporter to the effect that the payment against the shipping bill / invoice has been realised either in full or otherwise. Alternatively, such declaration may be submitted by an exporter to the Authorised Dealer on a quarterly basis for bulk closure of entries in EDPMS; Provided further that in the case of import where the Bill of Entry (for goods) or invoice (for services) is up to Rs.10 lakh (or its equivalent in foreign currency), entry in IDPMS may be closed based on a declaration from the importer to the effect that the payment for import has been made either in full or otherwise. Alternatively, such declaration may be submitted by an importer to the Authorised Dealer on a quarterly basis for bulk closure of entries in IDPMS. 5. Time period for realisation of exports.- (1) T....

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.... or associate companies, within the stipulated period for realisation of export proceeds or extended period, if any, allowed by the Authorised Dealer. 8. Third party receipts and payments.- An Authorised Dealer may permit third party (other than the parties undertaking export and import) receipts and payments for export and import transactions provided that the Authorised Dealer is satisfied with the bonafides of the transactions. 9. Time period for making import payment.- An Authorised Dealer shall monitor its IDPMS entries and follow up with the respective importer for making payment for its imports within the period specified in the underlying contract: Provided that the Authorised Dealer may, on request from the importer citing reasons for the delay, allow extension of time for making payment, beyond the period specified in the contract, if the Authorised Dealer is satisfied of the reasons cited. 10. Advance payment for exports and imports and delayed payment for imports.- (1) An exporter shall, in case of advance receipt for export, route the advance amount, and realisation of export proceeds, if any, through the same Authorised....

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.... if any, allowed by an Authorised Dealer, the exporter shall undertake further exports only against receipt of full advance or an irrevocable Letter of Credit. 14. Export of goods and services against repayment of State credits.- For the implementation of the provisions of the Inter banking arrangement, an Authorised Dealer shall adhere to instructions and directions issued by the Reserve Bank from time to time on export of goods and services against repayment of State credits granted by the erstwhile Soviet Union. 15. Project Export.- (1) An Authorised Dealer may permit receipts/ payments for project exports as per the underlying contract, after satisfying itself of the genuineness of the project. (2) Subject to monitoring by an Authorised Dealer, a project exporter may deploy temporary cash surplus, generated outside India, from such exports, for investments in short-term instruments (with original or residual maturity of one year or less) including in treasury bills and in deposits with banks, outside India. 16. Merchanting Trade Transaction (MTT).- (1) A person undertaking Merchanting Trade, in accordance with the Foreign Trade Policy....

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.... Trade Transactions (MTT) in EDPMS and/ or IDPMS. (f) shall monitor all transactions in EDPMS and IDPMS for closure of outstanding entries and follow-up with an exporter, an importer and person undertaking MTT for submission of documents for the same. Mark-off/closure of entries: (g) shall in the case of an export, mark-off the entry in EDPMS after ensuring that the export value has been realised. (h) shall in the case of an import, mark-off the entry in IDPMS after ensuring that the payment for the import has been made. (i) may on request by an exporter citing reasons, close the entry relating to export advance transactions in EDPMS, where no export has been made and where refund of such advance is not possible, after having been satisfied of the genuineness of the reasons cited. (j) may on request by an importer citing reasons, close the entry relating to import advance transactions in IDPMS, where no import has taken place and where repatriation of such advance is not possible, after having been satisfied of the genuineness of the reasons cited. (k) may on the request of importer, close the entry in IDPMS where import transac....

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....eclaration Form 1. General Information: Type of export : Goods/Service Form No: Shipping Bill No. & Date: Mode of Transport/Delivery: [ ] Air [ ] Land [ ] Sea [ ] Post/Couriers [ ] Internet [ ] others Category of Exporter: [ ] Custom (DTA units) [ ] SEZ [ ] 100% EOU [ ] Warehouse export [ ] others (Specify)....... AD code: IE Code: GSTIN: PAN: AD Name & Address: Exporters Name & Address: Mode of Realisation : [ ] L/C [ ] BG [ ] Others (advance payment, etc. including transfer/remittance to bank a/c maintained overseas ) Consignee Name & Address: Port of Loading / Source Port in case of SEZ : Third Party name & Address (In case of third Party Payments for Exports) Relationship between Exporter & Third Party: Country of Final Destination: Port of Discharge: Name of the AD and AD code, in case of LC/BG Date of Let Export order (LEO): Description of Goods/Services: Total FOB/Services value in words (INR):   2A. Details of Export Value^ of Goods (This part shall be repeated for each invoice drawn under a shipping bill) Client Name & Address: Invoice No. Invoice date. Invoice Currency: Invoice Amount: Contract N....