Export of Goods and Services Refund of Export Proceeds – Liberalisation
037 Dated:- 5-4-2007 Circular
FEMA
Superseded vide A.P. (DIR Series) Circular No. 20 dated 16-01-2026 w.e.f. 01-10-2026
Export of Goods and Services Refund of Export Proceeds – Liberalisation
RBI/2006-2007/313
A. P. (DIR Series) Circular No. 37
April 05, 2007
To,
All Category – I Authorised Dealer Banks
Madam / Sir,
Export of Goods and Services
Refund of Export Proceeds – Liberalisation
Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to paragraph D.2 of the Annexure to A. P. (DIR Series) Circular No.12 dated September 9, 2000, in terms of which refund of export proceeds may be a
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FT / Custom authorities that no incentives have been availed by the exporter against the relevant export or the proportionate incentives availed, if any, for the relevant export have been surrendered;
iv) obtain an undertaking from the exporter that the goods will be re-imported within three months from the date of remittance; and
v) ensure that all procedures as applicable to normal imports are adhered to.
3. AD Category – I banks may bring the contents of this circular to the notice of their constituents and customers concerned.
4. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without
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