Export proceeds to be realised & repatriated to India within 9 Months of from the date of Export

RBI had noti­fied via Cir­cu­lar No RBI/2014–15/306 A.P. (DIR Series) Cir­cu­lar No. 37 that of real­iza­tion and repa­tri­a­tion of export pro­ceeds shall be nine months from the date of export for all exporters includ­ing Units in SEZs, Sta­tus Hold­er Exporters, EOUs, Units in EHTPs, STPs & BTPs until fur­ther notice.

Atten­tion of Autho­rised Deal­er Category‑I (AD Category‑I) banks is invit­ed to A.P. (DIR Series) Cir­cu­lar No. 52 dat­ed Novem­ber 20, 2012 extend­ing the enhanced peri­od for real­iza­tion and repa­tri­a­tion to India, of the amount rep­re­sent­ing the full val­ue of exports, from six months to twelve months from the date of export. This relax­ation was avail­able up to March 31, 2013. There­after, in terms of A.P. (DIR Series) Cir­cu­lar No. 105 dat­ed May 20, 2013, this peri­od was brought down from twelve months to nine months from the date of export, valid till Sep­tem­ber 30, 2013. Fur­ther, in terms of A.P. (DIR Series) Cir­cu­lar No. 35 dat­ed April 01, 2002, A.P. (DIR Series) Cir­cu­lar No. 25 dat­ed Novem­ber 01, 2004 and A.P. (DIR Series) Cir­cu­lar No. 108 dat­ed June 11, 2013, the Units locat­ed in SEZs, Sta­tus Hold­er Exporters, EOUs, Units in EHTPs, STPs & BTPs shall real­ize and repa­tri­ate full val­ue of goods/software/services, to India with­in a peri­od of twelve months from the date of export.

2. The issue has since been reviewed and it has been decid­ed, in con­sul­ta­tion with the Gov­ern­ment of India, that hence­forth the peri­od of real­iza­tion and repa­tri­a­tion of export pro­ceeds shall be nine months from the date of export for all exporters includ­ing Units in SEZs, Sta­tus Hold­er Exporters, EOUs, Units in EHTPs, STPs & BTPs until fur­ther notice.

3. The pro­vi­sions in regard to peri­od of real­iza­tion and repa­tri­a­tion to India of the full exports made to ware­hous­es estab­lished out­side India remain unchanged.
4. AD Category‑I banks may bring the con­tents of this cir­cu­lar to the notice of their con­stituents and cus­tomers concerned.

5. The direc­tions con­tained in this cir­cu­lar have been issued under sec­tions 10 (4) and 11(1) of the For­eign Exchange Man­age­ment Act (FEMA), 1999 (42 of 1999) and are with­out prej­u­dice to per­mis­sions / approvals, if any, required under any oth­er law.

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