Dear Mr Khaneja,
GR stands for "Guaranteed Remittance" Form, which is prescribed by RBI in case of export of goods and services under cause (a) of sub-section (3) of section 7, subsection (20 of section 47 of FEMA, 1999.
Exemption from filing GR form by the exporters: In case your material was imported free of cost on re-export basis, you can avail of the exemption facility from filing GR. Refer to Regulation 4 of the Foreign Exchange Management (Export of goods and services) Regulations 2000 and Master circular no. 9/2007 issued by RBI.
In case of processing export documents through EDI system, Statutory Declaration Form (SDF) is to be filed instead of GR form, which is meant for processing documents manually.
In case you have not made any payment to your parent company towards the value of imported goods, you need not realise the export proceeds out of the re-export of the imported goods. GR form is a mandatory RBI form in which the exporter has to declare an undertaking to realise the export proceeds on the due date.
You may refer to part III of the Master circular no. 9/2007- cus dated 1-7-2008 dealing with operational guidelines for AD Banks for more details on GR/SDF, PP and Softex form and its waiver.