FEMA - Export of Goods and Software - Realisation and Repatriation of export proceeds - Period Reduced
In November 2012, the Reserve bank of India had extended the enhanced period for realization and repatriation to India, of the amount representing the full value of goods or software exported, from six months to twelve months from the date of export. This relaxation was available up to March 31, 2013.
The issue has since been reviewed and it has been decided, in consultation with the Government of India, to bring down the above realization period f rom twelve months to nine months from the date of export, with immediate effect, valid till September 30, 2013.