Export proceeds

This query is : Resolved

sachin (Querist)
Follow

05 March 2015 If we had exported a product in june 2014, till when can we get the money from our overseas buyer as per rbi guide lines and what is the max time allowed

P V Ram

P V Ram (Expert)
Follow

05 March 2015 Normally export amounts are to be received within 6 months. For genuine reasons, this period can be extended upto 3 years on a case to case basis.

Thanks!

Trilok Lalwani

Trilok Lalwani (Expert)
Follow

05 March 2015 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 and BTPs until further notice," . Earlier, these entities were getting a year to realise and repatriate full value of goods/software/services to India. The time for other exporters was reduced to nine months from one year in May 2013.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

09 March 2015 Thanks Lalwani ji.......

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.

Download the Circular

https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=9342&Mode=0

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now