Export of goods & services –Extension of period of realisation

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..... t of goods services - Extension of period of realisation Attention of all Authorised Dealers is invited to paragraph C.15 of A.P.(DIR Series) Circular No. 12 dated September 9, 2000, in terms of which cases where an exporter has not been able to realise proceeds of shipment within the prescribed period (i.e. within six months from the date of exports), for reasons beyond his control, the expo .....

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..... e date of export the total export outstandings of the exporter should not be more than 10% of the average of export realisations during the preceding three financial years. 2. The ceiling of US $ 1,00,000 would not apply where the exporter has filed suits against the importer abroad. In such cases extension may be granted upto six months at a time, irrespective of the amount involved. 3. Ca .....

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..... 6. The directions contained in the 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 - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI .....

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