9911796707
TMI BlogCompilation of R-Returns: Reporting under FETERSX X X X Extracts X X X X X X X X Extracts X X X X ..... ort-related information through EDPMS platform and A.P.(DIR Series) Circular No.15 dated July 28, 2014 which discontinued separate reporting of information in ENC (Export Bills Negotiated / sent for collection) for acknowledgement of receipt of export documents and Sch.3 to 6 (realization of export proceeds) under FETERS. Web based data submission by AD banks 2. In order to enhance the security-level in data submission and further improve data quality, the following modifications shall be effected in the guidelines for submission of data under the FETERS from 1st fortnight of April 2016 (i.e., reporting of those transactions which take place from April 1, 2016): The present email-based submission will be replaced by web-port ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er than Nepal and Bhutan] and P0107 [Realisation of NPD export bills (full value of bill to be reported) other than Nepal and Bhutan] have become defunct and are, therefore, discontinued. Revision in Form A2 3. Further, in-order to streamline the reporting of the transactions relating to the Liberalised Remittance Scheme (LRS) in FETERS and On-line Return Filing System (ORFS), it has been decided that transactions relating to LRS may be reported under respective FETERS purpose codes (e.g. travel, medical treatment, purchase of immovable property, studies abroad, maintenance of close relatives; etc.) instead of reporting collectively under the purpose code S0023. This would help AD banks in classification of transactions for simila ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... S0304, S0305 S0306 7 Maintenance of close relatives S1301 8 Medical Treatment S1108 9 Studies abroad S1107 10 Emigration S1307 11 Others such as loan to NRI close relatives and health insurance S0011, S0603 ii. AD banks should also ensure that the data pertaining to LRS transactions reported by them in FETERS tallies with that reported by them in ORFS. iii. The Form A2 is also being revised (as per Annex ) by introducing a check-box for LRS transactions in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay be noted that the remittance will be subject to satisfaction of the Authorised Dealer banks as laid down in Section 10 (5) of FEMA. Accordingly, Authorised Dealer banks are advised to frame appropriate guidelines for customer interface personnel to ensure ease of transactions for the customers within the ambit of the statutory/regulatory provisions. It may be further noted that reporting of transactions in FETERS shall continue, as hitherto, by the Authorised Dealer banks. 5. Appropriate changes in technology and/or operating procedure may be carried out by Authorised dealer banks immediately and compliance in this regard furnished to RBI. 6. The changes introduced through this circular may be implemented with immediate effect and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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