Amendments in Para 5.11 of the HBP in syne with RBI A.P.(DIR Series) Circular No.10 dated 11" July 2022
In force — no superseding record on file.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-I, SECTION-I]
Government of India Ministry of Commerce and Industry Department of Commerce Directorate General of Foreign Trade
Public Notice No. 35 / 2015-20 New Delhi, Dated 9"" November, 2022
Subject: Amendments in Para 5.11 of the HBP in syne with RBI A.P.(DIR Series) Circular No.10 dated 11" July 2022
In exercise of the powers conferred under Para 1.03 and 2.04 of the Foreign Trade Policy, 2015-2020, the Director General of Foreign Trade hereby makes the following amendments in Para 5.11 of the Handbook of Procedures 2015-20, with immediate effect, in sync with the RBI’s A.P. (DIR Series) Circular No.10 dated 11" July, 2022:
5.11: Realization of Export proceeds
5.11: Realization of Export proceeds
Export proceeds shall be realized in freely Export proceeds shall be realized in freely convertible currency except for deemed convertible currency or in Indian Rupees exports supplies under Chapter 7. Exports as per para 2.53 of FTP, except for to SEZ units /Supplies to developers/ codeemed exports supplies under Chapter 7. developers irrespective of currency of Exports to SEZ units /Supplies to realization would also be counted for developers/ co-developers irrespective of discharge of Export Obligation. currency of realization would also be Realization in case of supplies to SEZ counted for discharge of Export units shall be from foreign currency Obligation. Realization in case of supplies account of the SEZ unit. to SEZ units shall be from foreign currency account of the SEZ unit.
Zi Effect of Public Notice: Amendment in Para 5.11 of the HBP are notified, to permit the Invoicing, payment and settlement of exports and imports in INR for Export Proceeds under EPCG Scheme, in syne with RBI’s A.P. (DIR Series) Circular No. 10 dated 11" July, 2022. This shall come into force with immediate effect.
(Santosh Kumar Sarangi) Director General of Foreign Trade & Ex- officio Addl. Secretary to the Government of India
E-mail: dgft@nic.in.
[File No. 01/93/180/32/AM-19/PC.II(B)/E-17430]
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