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July 2013

Export of Goods and Services – Realisation and Repatriation period for units in Special Economic Zones (SEZ)

By Gaurang Gandhi, Chartered Accountant
Reading Time 1 mins
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Presently, there is no time limit for realisation and repatriation of export proceeds in respect of exports made by units in SEZ.

This circular provides that exporters in a SEZ must now realize and repatriate within a period of twelve months from the date of export the full value of goods/software/services exported by them. In case they require any extension of time beyond the above stipulated period they have to obtain specific permission of RBI.

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