CIR. NO. 31/2005-06-RB, DT. 21/04/2006
- Document type
- Circular
- Dated
- Category
- A.P. (DIR Series) Circulars
Export of Goods and Services-Extension of period of realization
Export of Goods and Services-Extension of period of realization
2. As a measure of further liberalization, it has now been decided to increase the invoice value limit to US$ 1 million from existing US$ 100,000 with immediate effect. Accordingly, AD banks may henceforth grant extension of time for realization of export proceeds beyond prescribed period from the date of export up to the invoice value of US$ 1 million subject to existing terms and conditions.
3. AD banks may bring the contents of this Circular to the notice of their constituents concerned.
4. The directions contained in the Circular have been issued under Section 10(4) and Section 11(1) of Foreign Exchange Management Act, 1999 (42 of 1999) and without prejudice to permissions/approvals, if any, required under any other law.
Yours faithfully,
(M. Sebastian)
Chief General Manager