FEMA – 035 – Dated:- 11-6-2001 – Foreign Exchange Management Act, 1999 – Export of Goods and Services RESERVE BANK OF INDIAEXCHANGE CONTROL DEPARTMENTCENTRAL OFFICEMUMBAI – 400 001 A.P. (DIR Series) Circular No. 35 June 11, 2001 To All Authorised Dealers in Foreign Exchange Dear Sirs Foreign Exchange Management Act, 1999 – Export of Goods and Services Attention of authorised dealers is invited to paragraph C.10 of the Annexure to A.P. (DIR Series) Circular No.12 dated September 9, 2000, in terms of which authorised dealers have been advised to watch closely realisation of export bills and in cases where bills remain outstanding beyond the due date for payment or 6 months from the date of export, the matter should be promptly taken up with
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send a statement in Form XOS containing the details of all export bills outstanding beyond six months from the date of shipment irrespective of the location of the exporter/unit. In case of units located in Special Economic Zones (SEZs), authorised dealers should indicate SEZ in the remarks column of XOSstatement. 3. Authorised dealers may being the contents of this circular to the notice of their constituents concerned. 4. 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). Any contravention or non-observance of these directions is subject to the penalties prescribed under the Act. Yours faithfully P.K. BISWAS Chief General Manager – Ci
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