Export of Goods/Software/Services - Period of Realisation and Repatriation of Export Proceeds - RBI Instructs
THE period of realization and repatriation to India of the amount representing the full export value of goods or software exported was six months. In 2011, RBI extended this period to twelve months. This relaxation was available up to September 30, 2012. In November 2012, RBI extended this relaxation till March 31, 2013. Thereafter this period was brought down from twelve months to nine months from the date of export, valid till September 30, 2013. However this period was retained at twelve months for Units located in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs & BTPs.
The Present: RBI directs that henceforth the period of realization and repatriation of export proceeds shall be nine months from the date of export for all exporters including Units in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs & BTPs until further notice.
RBI AP (DIR Series) Circular No. 37., Dated: November 20, 2014