Foreign Exchange Management (Exports of Goods and Services) (Amendment) Regulations, 2008 - 176/2008-RB - Foreign Exchange Management

Foreign Exchange Management (Exports of Goods and Services) (Amendment) Regulations, 2008 NOTIFICATION Mumbai, the 23rd July, 2008 No. FEMA 176/2008-RB G.S.R. 576(E).— In exercise of the powers conferred by clause (a) of sub-section (1) and sub-section (3) of Section 7 , sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999(42 of 1999) ( Notification No. FEMA.23/RB-2000, dated 3rd May2000 ), the Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 , namely:— 1. Short title and commencement: (i) These regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2008. (ii) They shall deemed to have come into force on the 3rd day of June 2008.@ 2. Amendment of the Regulations: In the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 ( Notification No.FEMA.23/2000-RB dated May 3, 2000 ) (hereinafter called "the principal regulations"), the following amendments shall be made, namely :— (i) in Regulation 9, in sub-regulation (1) for the words "six months", the words "twelve months" shall be substituted. (ii) in Regulation 9, in sub-regulation (1) in the third proviso, for the words "six months", the words "twelve months" shall be substituted. (iii) in Regulation 10, for the words "six months", the words "twelve months" shall be substituted. (iv) in Schedule, in forms GR, SDF and PP for the words "six months" wherever they occur, the words "twelve months" shall be substituted. (v) in Schedule, in Software Export Declaration (SOFTEX) Form, for the figures and word "180 days" wherever they occur, the words "twelve months" shall be substituted. [F. No. 1/23/EM/2000-Vol. IV] SALIM GANGADHARAN, chief General Manager-in-Charge Foote Note : (1) @ It is clarified that no person will be adversely affected as a result of retrospective effect being given to these Regulations. (2)The Principal Regulations were published in the Official Gazette vide No. G.S.R. 409(E) dated May 8, 2000 in part II, Section 3, Sub-section (i) and subsequently amended vide (:) No. G.S.R. 199(E) dated March 21, 2001 (ii) No. G.S.R. 473(E) dated July 8, 2002 (iii) No. G.S.R. 773(E) dated September 29, 2003, (iv) No. G.S.R. 900(E) dated November 22, 2003 (v) No. G.S.R. 279(E) dated April 23, 2004 (vi) No. G.S. R. 352(E) dated June 8, 2004.