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August 2013

A. P. (DIR Series) Circular No. 118 dated June 26, 2013

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Export of Goods and Services – Project Exports

Presently, exporter undertaking Project Exports and Service contracts abroad are required to submit form DPX1, PEX-1 and TCS-1 to the Approving Authority (AA) i.e. Bank/Exim Bank/Working Group, within 15 days of entering into contract for grant of post-award approval.

This circular has extended the said period to 30 days from the present 15 days, Hence, exporter undertaking Project Exports and Service contracts abroad can now to submit form DPX1, PEX-1 and TCS-1 to the Approving Authority (AA) i.e. Bank/Exim Bank / Working Group, within 30 days of entering into contract for grant of post-award approval.

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