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October 2013

A. P. (DIR Series) Circular No. 51 dated 20th September, 2013

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

Presently, the time limit for submitting form DPX 1, PEX-1 and TCS-1 is 30 days of entering contract for grant of post-award approval.

This circular has done away with the requirement of submission of forms DPX1, PEX-1, TCS-1 and DPX-3, to the concerned regional office of the RBI (Foreign Exchange Department) by the Approving Authority (AA). However, these forms may continue to be submitted to ECGC and Exim Bank where their participatory interests by way of funded/non-funded facilities, insurance/risk cover, etc., are involved.

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