Export of Goods and Services - FEMA - 012

Export of Goods and Services RESERVE BANK OF INDIA EXCHANGE CONTROL DEPARTMENT CENTRAL OFFICE MUMBAI - 400 001 A.P.(DIR Series) Circular No.12 August 28, 2002 To All Authorised Dealers in Foreign Exchange Madam / Sirs, Export of Goods and Services Attention of all authorised dealers is invited to A.P.(DIR Series) Circular No. 5 dated August 27, 2001 in terms of which a period of 360 days from the date of shipment was allowed as a temporary measure from September 1, 2001 for realisation and repatriation of full value of goods/software exported to the countries included in the list annexed to the above circular. On a review, it has been decided to extend the facility for a further period of one year with effect from September 1, 2002 for export of goods/software to the countries included in the list annexed. Accordingly, from September 1, 2003, the exporters will be under obligation to realise full export proceeds within the prescribed period of six months from the date of export. 2. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned. 3. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager Annexure 1 Antigua 2 Argentina 3 Bahama 4 Barbados 5 Belige 6 Bermuda 7 Bolivia 8 Brazil 9 Chile 10 Colombia 11 Costa Rica 12 Cuba 13 Cyprus 14 Dominica 15 Dominican rep 16 El Salvador 17 Faeroe Is 18 Folkland Is 19 French Guiana 20 Gibraltar 21 Greenland 22 Grenada 23 Guadeloupe (French West Indies) 24 Guatemala 25 Guyana 26 Haiti 27 Honduras 28 Jamaica 29 Malta 30 Martinique 31 Mexico 32 Montserrat 33 Netherlands Antilles 34 Nicaragua 35 Panama excluding Canal Zone rep 36 Paraguay 37 Peru 38 St.Lucia 39 St.Pierre Miqueion 40 St.Vincent 41 Surinam 42 Trinidad Tobago 43 Uruguay