RBI gives relaxation in timeline of Realisation and Repatriation of Export Proceeds

Apr 02, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Reserve Bank of India (RBI) on April 01, 2020, has increased period of realization and repatriation of export value of goods or software or services exported due to the outbreak of COVID-19 pandemic. RBI had received representations from Exporters Trade bodies to extend the period of realisation of export proceeds due to the lockdown across all the States.

Thus after consultation with Government of India and looking at the present situation, it has been decided to increase the period of realization and repatriation to India of the amount representing the full export value of goods or software or services exported, from 9 months to 15 months from the date of export, for the exports made up to or on July 31, 2020. However, this relaxation in time period is not applicable to warehouses established outside India and their timeline remains unchanged.

[Notification No. A. P. (DIR Series) Circular No. 27]


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