Export of Goods and Services – Unrealised export bills – Write – off – Surrender of export incentives – FEMA – 03/2010 – Dated:- 22-7-2010 – Export of Goods and Services – Unrealised export bills – Write – off – Surrender of export incentives RBI/2010-11/123 A.P. (DIR Series) Circular No.03 July 22, 2010 To All Category – I Authorised Dealer Banks Madam / Sir, Attention of Authorised Dealer Category – I (AD Category -I) banks is invited to A.P. (DIR Series) Circular No. 12 dated September 09, 2000, A.P. (DIR Series) Circular No. 30 dated April 04, 2001, A.P. (DIR Series) Circular No. 61 dated December 14, 2002, A.P. (DIR Series) Circular No. 40 dated December 05, 2003 and A.P. (DIR Series) Circular No. 33 dated February 28, 2007, in terms o
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by the Reserve Bank or by the AD Category – I banks on behalf of the Reserve Bank, as per the extant guidelines; ii. the exporter produces a certificate from the Foreign Mission of India concerned, about the fact of non-recovery of export proceeds from the buyer; and iii. this would not be applicable in self-write-off cases. The above relaxation is applicable for the exports made with effect from August 27, 2009. 3. It is clarified that since the Drawback scheme is governed by the provisions of the Customs Act, 1962 and the Rules made there under, the provisions contained in para. 2.25.4 of the Handbook of Procedure – Vol. I. of the Foreign Trade Policy (FTP) (2009-2014) would not be applicable to the Duty Drawback scheme. Therefore, the d
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nge Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, G. Jaganmohan Rao Chief General Manager Annex [Annex to A.P. (DIR Series) Circular No.03 dated July 22, 2010] Extract of Para. 2.25.4 of the Handbook of Procedure – Vol. I – 2009 – 2014 of Foreign Trade Policy (FTP) Realization of export proceeds shall not be insisted under any of the Export Promotion Schemes under this Foreign Trade Policy (FTP), if the Reserve Bank of India (RBI) writes off the requirement of realization of export proceeds on merits and the exporter produces a certificate from the concerned Foreign Mission of India about the fact of non-recovery of export proceeds from the buye
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