Merchandise, software exporters get 1 year's time to repatriate proceeds
30 Jun 2010
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The Reserve Bank of India has extended the period for full repatriation of export value of goods or software to India to 12 months from the existing six months from the date of export.
This directive is subject to review after one year, RBI said in a release.
RBI said the decision has been made in consultation with the Government of India and the relaxation period has been extend up to 31 March 2011.
However, the provisions regarding the period of realisation and repatriation to India of the full export value of goods or software exported by a unit situated in a special economic zone (SEZ) as well as exports made to warehouses established outside India remains unchanged, RBI said.
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