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Date: 01 Jun 2005
Statement of Export Bills Negotiated/ Sent for Collection Covered by GR/PP/SOFTEX Forms
6

PART B - GR/PP PROCEDURE

 

Disposal of Copies of Export Declaration Forms

     

6B.1

(i)

Copies of export declaration forms should be disposed of as under:


   

(a)

GR forms should be completed by the exporter in duplicate and both the copies submitted to the Customs at the port of shipment along with the shipping bill. Customs will give their running serial number on both the copies after admitting the corresponding shipping bill. The Customs serial number will have ten numerals denoting the code number of the port of shipment, the calendar year and a six digit running serial number. Customs will certify the value declared by the exporter on both the copies of the GR form at the space earmarked and will also record the assessed value. They will then return the duplicate copy of the form to the exporter and retain the original for transmission to Reserve Bank. Exporters should submit the duplicate copy of the GR form again to Customs along with the cargo to be shipped. After examination of the goods and certifying the quantity passed for shipment on the duplicate copy, Customs will return it to the exporter for submission to the authorised dealer for negotiation or collection of export bills.

       
   

(b)

Within twenty one days from shipment of goods, exporter should lodge the duplicate copy together with relative shipping documents and an extra copy of the invoice with the authorised dealer named on the GR form. After the documents have been negotiated/sent for collection, the authorised dealer should report the transaction to Reserve Bank in statement ENC under cover of appropriate R-Supplementary Return. The duplicate copy of the form together with a copy of invoice will be retained by the authorised dealer till full export proceeds have been realised and thereafter submitted to Reserve Bank duly certified under cover of appropriate R-Supplementary Return.

       
    NOTE: 

In the case of exports made under deferred credit arrangement or to joint ventures abroad against equity participation or under rupee credit agreement, the number and date of Reserve Bank approval and/or number and date of the relative A.D. circular should be recorded at the appropriate place on the GR form.

       
   

(c)

In cases where ECGC initially settles the claims of exporters in respect of exports insured with them and subsequently receives the export proceeds from the buyer/buyer's country through the efforts made by them, the share of exporters in the amount so received is disbursed through the bank which had handled the shipping documents. In such cases, ECGC will issue a certificate to the bank which had handled the relevant shipping documents after full proceeds have been received by them. The certificate will indicate the number of GR / PP form, name of the exporter, name of the authorised dealer, date of negotiation/bill number, invoice value and the amount actually received by ECGC against the relevant GR / PP form. It will be in order for authorised dealers to certify the duplicate GR/PP form on the basis of the certificate issued by ECGC and submit them to Reserve Bank. The certificates issued by ECGC may also be attached to the duplicate GR / PP forms while forwarding them to Reserve Bank.

       
   

(d)

Where a part of export proceeds are credited to EEFC account (paragraph 6E.1), the GR / PP / SOFTEX duplicate forms may be certified as under:

         
       

"Proceeds amounting to ......... representing ....... % of the value of shipment credited to EEFC account maintained by the exporter with.........."

     
 
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