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August 2009

A.P. (DIR Series) Circular No. 70, dated 30-6-2009 : Export of goods and software : Realisation and repatriation of export proceeds : Liberalisation.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants
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Part C : RBI/FEMA

Given below are the highlights of certain RBI Circulars.


  1. A.P. (DIR Series) Circular No. 70, dated 30-6-2009 : Export
    of goods and software : Realisation and repatriation of export proceeds :
    Liberalisation.

Presently, exporters are permitted to realise and
repatriate the full export value of the goods or soft-ware exported within
twelve months from the date of export, as against the norm of realising and
repatriation of the full export value of the goods or software exported within
six months from the date of export.

This Circular has extended this relaxation for a further
period of one year i.e., up to June 30, 2010. As a result exporters can
repatriate the full export value of the goods or software exported up to June
30, 2010 within twelve months from the date of export.

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