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August 2010

A.P. (DIR Series) Circular No. 57, dated 29-6-2010 — Export of goods and software — Realisation and repatriation of export proceeds — Liberalisation.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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Part C : RBI/FEMA

92 A.P. (DIR Series) Circular No. 57, dated 29-6-2010 —
Export of goods and software — Realisation and repatriation of export proceeds —
Liberalisation.

Presently, the time period for realisation and repatriation
of the full value of goods or software exported up to June 30, 2010 is 12 months
from the date of export.

This Circular provides that this facility is being extended
up to March 31, 2011 i.e., the time period for realisation and repatriation of
the full value of goods or software exported up to March 31, 2011 is 12 months
from the date of export.

However, there is no change in the provisions with regard to
period of realisation and repatriation of the full value of the goods or
software exported :


(a) By units situated in a Special Economic Zone (SEZ).

(b) To their own warehouses outside exporters in India.



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