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Extension of realisation period of export proceeds
The time period for realisation and repatriation of export proceeds for exports made up to or on July 31, 2020, has been extended to 15 months from the date of export, rather than the previous 9 months.
Eligibility criteria
Exporters of goods and services
What it covers
Presently, the value of the goods or software exports made by exporters is required to be fully realised and repatriated to the country within a period of 9 months from the date of export. This measure will help exporters realise their receipts, especially from COVID-19 affected countries, within the extended period and also provide greater flexibility to negotiate future export contracts with buyers abroad.
Disclaimer:
Information provided here has been sourced from news articles based on the press conference by Government officials.