Dispensing with SDF form
June 4, 2015
Members of the Council,
Sub : Dispensing with SDF form
We wish to inform you that Government has taken number of measures to enhance the ease of doing business. In this direction, a Committee constituted by Ministry of Commerce and Industry has also recommended the reduction of documents for import and export of goods in order to reduce transaction cost.
As per the extant provisions, an exporter is required to submit the SDF form (Statutory Declaration Form) along with Shipping Bills for export of goods to the concerned Customs authorities. RBI has recently dispensed with the SDF in case of exports taking place through the EDI ports vide Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2015’ and A.P. (DIR Series) Circular No 101, dated 14.05.2015. Cconsequently, RBI has desired that the declaration of foreign exchange remittance under the Foreign Exchange Management Act, 1999 (given below) may be made a part of the Shipping Bill.
“I/We undertake to abide by provisions of Foreign Exchange Management Act, 1999, as amended from time to time, including realization / repatriation of foreign exchange to / from India.”
DGFT has endorsed this proposal.
Accordingly, Board has issued Notification No 46/2015-Customs (N.T.), dated 18.05.2015 (copy enclosed) to incorporate the aforementioned declaration in lieu of SDF form in the Shipping Bill. Thus, declaration as mentioned in para 2 above should be furnished by exporters as part of the declaration in the Shipping Bill with immediate effect.
Members may kindly note the above.
R Ramesh Kumar,IAS
COUNCIL FOR LEATHER EXPORTS