The Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019

Dec 12, 2019 | by Avantis RegTech Legal Research Team


The Reserve Bank of India (RBI) on December 03, 2019, notifies the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2019 to further amend the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015.

The amendments are made in Regulation 4 of the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 related to the “exemptions over export of goods or software may be made without furnishing the declaration”. A new Regulation 4(ea) has been newly inserted, namely:

“re-export of leased aircraft or helicopter and/or engines or auxiliary power units (APUs) re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ subject to permission by Directorate General of Civil Aviation (DGCA) or Ministry of Civil Aviation for such exports”

These Regulations shall come into force from the date of their publication in the official Gazette that is December 09, 2019.

[Notification No. FEMA 23(R)/(2)/2019-RB]


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