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Fema act

This query is : Resolved 
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(Querist)
02 November 2015 As per Sec 10(4) & 11(1) of FEMA act, RBI is given powers to specify the period within which export proceeds are to be recovered, as per rbi notification the period is 9 Months.
My query is whether the period of 9 months is applicable to retention money which is being retained by importer of service(Leasing service)
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Guest (Expert)
04 November 2015 Dont worry. The time limit is not applicable for retention money part. it is there in master circular issued by RBI
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VAMSIDHAR

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VAMSIDHAR (Querist)
04 November 2015 Thank you for your reply I have read the Master circular.14/2013 but I was unable to find the retention money part will I please help me ?
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