Export of Goods and Services – RBI Liberalisation
With a view to further liberalise the facilities available to exporters and simplify the procedure for export, RBI has authorized AD banks to consider grant of GR approval, in cases where goods are being exported for repairs, maintenance, calibration, testing etc. and subsequently re-imported after necessary repairs / maintenance / calibration / testing, etc. subject to the condition that the exporter shall produce relative Bill of Entry within one month of re-import of the exported item from India. In cases where the goods being exported for testing are destroyed during testing, AD banks may obtain a certificate issued by the testing agency that the goods have been destroyed during testing, in lieu of Bill of Entry for import.
RBI CIRCULAR NO 21, Dated: January 10, 2006