No.CLE-HO/POL/CIRCULAR/14-15

February 18, 2015

Members of the Council,

Sub : Realization and Repatriation of Export Proceeds

Dear Sirs,

As you are kindly aware Reserve Bank of India (RBI) circular No.52 dated Nov.20, 2014 extended the period for realization and repatriation of export proceeds for exporters from six to twelve months from date of export. This relaxation was available up to March 31, 2013.

Thereafter, in terms of A.P. (DIR Series) Circular No.105 dated May 20, 2013, this period was brought down from twelve months to nine months from the date of export, valid till Sept 30, 2013. Further in terms of A.P. (DIR Series) Circular No.35 dated April 01, 2002, A.P. (DIR Series) Circular No.25 dated Nov 01, 2004 and A.P. (DIR Series) Circular No. 108 dated June 11, 2013, the units located in SEZs, Status Holder Exporters, EOUs, Units in EHTPs, STPs & BTPs shall realize and repatriate full value of goods/software/services, to India within a period of twelve months from the date of export.

The RBI has issued a circular No.37 dated Nov.20, 2014 stating 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.

Members may kindly note the above.

Thanks & regards,

R.Ramesh Kumar, IAS
Executive Director
COUNCIL FOR LEATHER EXPORTS

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