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Export of Goods and Services - Facilities to Status Holder Exporters
A.P. (DIR Series) Circular No. 35 dated
1st April 2002
Attention of authorised dealers is
invited to A.P. (DIR Series) Circular No. 12 dated September 9, 2000, containing
directions regarding Export of Goods and Services.
2. With a view to
simplifying the procedures regarding exports, it has been decided to extend the
following facilities to the exporters with proven track record who have been
certified as �Status Holder Exporters� in terms of the EXIM Policy: -
(i) Despatch of Shipping
Documents: In terms of paragraph
C.7 of A.P. (DIR Series) Circular No. 12 dated September 9, 2000, authorised
dealers have been advised to accede, in certain cases, to the requests of the
exporters for despatch of documents direct to the consignee. It has now been decided that authorised dealers may permit
the exporters with proven track record who have been certified as �Status
Holder Exporters� in terms of the EXIM Policy, to despatch the export
documents direct to the consignees outside India subject to the conditions that
(a) the export proceeds are repatriated through the authorised dealer named in
the GR form and (b) the duplicate copy of the GR Form is submitted to the
authorised dealer for monitoring purposes, by the exporters within 21 days from
the date of shipment of export,
(ii) Enhancement in normal period
for realisation of exports proceeds: In terms of the second proviso made to
Regulation 9 of Notification No. FEMA 23/ 2000-RB dated May 3, 2000,the Reserve
Bank has been empowered to extend the period of six months for realisation and
repatriation of export proceeds to India. It
has now been decided that the exporters with proven track record who have been
certified as �Status Holder� in terms of the EXIM Policy, realise and
repatriate the full value of export proceeds within a period of twelve months
from the date of shipment.
These facilities
will be available in respect of the shipment made on or after April 1, 2002.
3.
Necessary amendments to the Foreign Exchange Management Regulations are
being notified separately.
4.
Authorised Dealers may bring the contents of this circular to the notice
of their constituents concerned.
5. The directions contained
in this circular have been issued under Section 10(4) and Section 11(1) of the
Foreign Exchange Management Act, 1999 (42 of 1999).
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