Regulation 9 - Period within which export value of goods/software to be realised - Foreign Exchange Management (Export of Goods And Services) Regulations, 2000

9. Period within which export value of goods/software to be realised :- 1 (1) The amount representing the full export value of goods or software exported shall be realised and repatriated to India within 8 [nine months] from the date of export : 7 [***] Provided that where the goods are exported to a warehouse established outside India with the permission of the Reserve Bank, the amount representing the full export value of goods exported shall be paid to the authorised dealer as soon as it is realised and in any case within fifteen months from the date of shipment of goods; Provided further that the Reserve Bank, or subject to the directions issued by that Bank in this behalf, the authorised dealer may, for a sufficient and reasonable cause shown, extend the said period of 9 [nine months] or fifteen months, as the case may be. Explanation : For the purpose of this regulation, the date of export in relation to the export of software in other than physical form, shall be deemed to be the date of invoice covering such export. 1 (2) (a)Where the export of goods or software has been made 4 (***) 2 by a Status Holder exporter, as defined in the EXIM Policy in force , then notwithstanding anything contained in sub-regulation (I), the amount representing the full export value of goods or software shall be realised and repatriated to India within twelve months from the date of export. Provided that the Reserve Bank may for a sufficient and reasonable cause shown, extend the said period of twelve months. (b) The Reserve Bank may for reasonable and sufficient cause direct that 5 the said exporter/s shall cease to be governed by sub-regulation (2); Provided that no such direction shall be given unless the unit has been given a reasonable opportunity to make a representation in the matter. (c) On such direction, 5 the said exporter/s shall be governed by the provisions of sub-regulation (1), until directed otherwise by the Reserve Bank. **************************** Note : 1. Regulation has been numbered as '(1)'; and sub-regulation (2) (a) has been inserted vide Notification No. 036/2001 dated 27/2/2001 2. The words 'or by a Status Holder exporter, as defined in the EXIM Policy in force ,' has been inserted vide Notification No. 057/2002 dated 1/4/2002 3. Has been added vide Notification No. 099/2003 dated 27/8/2003 4. The words, 'by a unit situated in a Special Economic Zone or' has been deleted vide Notification No. Supra 5. For the words 'unit', the word, 'the said exporter/s' has been substituted vide Notification No. Supra 6. For the words six months , the words twelve months has been substituted vide Notification No. 176/2008-RB dated 23/7/2008 7. Deleted vide Notification No. 273/2013-RB April 25, 2013 , before it was read as, 3 Provided that where the goods or software are exported by the units in Special Economic Zones, the stipulation of period of realisation and repatriation to India of full export value of goods or software shall not apply. 8. Substituted vide NOTIFICATION 302/14 dated 28th April, 2014 w.e.f. 1st day of April, 2013 , before it was read as, 6 twelve months . 9. Substituted vide NOTIFICATION 302/14 dated 28th April, 2014 w.e.f. 1st day of April, 2013 , before it was read as, 6 twelve months .