Notifications

(8 kb)
R-Return and Guide to Authorised Dealers for
Compilation of R Returns - Submission of
documents/statements/schedules – Discontinuation
A.P.(DIR Series) Circular No.76 (February 3, 2003)

Reserve Bank of India
Exchange Control Department
Central Office
Mumbai 400 001

February 3, 2003

A.P.(DIR Series) Circular No.76

To
All Authorised Dealers in Foreign Exchange

Madam/Sirs,

R-Return and Guide to Authorised Dealers for
Compilation of R Returns - Submission of
documents/statements/schedules – Discontinuation

Attention of all authorised dealers is invited to paragraph 3 of A.D. (M.A. Series) Circular No.11 dated May 16, 2000 read with paragraph 15 of Annexure (viz. Guide to authorised dealers for compilation of R-Returns) to A.D.(M.A. Series) Circular No.12 dated March 11, 1998, in terms of which they are required to submit documents prescribed therein along with R-Returns. It has now been decided that with the switch over to Electronic Reporting System in FET-ERS (5.0 version) the submission of documents/statements/schedules prescribed in the said paragraph (copy enclosed) may be discontinued with effect from the first fortnight of February 2003.

2. Authorised Dealers are, however, advised to continue to submit the hard copy of the cover-page, viz. R-Return (NOSTRO) and R-Return (VOSTRO), together with FET-ERS (Version 5.0), in floppy form.

3. The directions contained in the circular have been issued under Section 10(4) and Section 11(l) of the Foreign Exchange Management Act, 1999 (42 of 1999)

Yours faithfully,

Grace Koshie
Chief General Manager

[A.P. (DIR Series) Circular No.76
dated February 3, 2003]

15. The following documents / statements / schedules* relating to payments from and receipts in both Nostro and Vostro accounts during the period under report should accompany the respective R-Returns ( * as per the formats enclosed) :

(i) Forms A1 and A2/statement of travel transactions in lieu of Forms A2 together with covering schedules duly segregated as under, statement of sales to overseas banks/branches and Forms A3 (in the case of Vostro account) :

Documents to be submitted
along with
R-Returns

(ii) SCH 1

(a) for Forms A1 relating to payments below the equivalent to Rs.5,00,000/- towards imports into India

 
 

(b) for Forms A1 relating to payments equivalent to Rs.5,00,000/- and above towards imports into India

 

(iii) SCH 2

(a) for Forms A2 relating to payments below the equivalent to Rs.5,00,000/- towards purposes other than imports

 
 

(b) for Forms A2 relating to payments equivalent to Rs.5,00,000/- and above towards purposes other than imports

 

(iv) ENC Statement

relating to physical exports, bills in respect of which were negotiated , purchased, discounted or sent for collection during the reporting period.

 

(v) GR/PP/
SOFTEX
Forms

relating to exports where full export value has been realised, with invoices/accounts sales, etc as enclosures to SCH 3/SCH 5.

 

(vi) SCH 3

for exports where full value has been realised

 

(vii) SCH 4

for exports where part value has been realised

 

(viii) SCH 5

for exports where full value has been received in advance

 

(ix) SCH 6

for exports where part value has been received in advance.

 

(x)

Supplementary statement of receipts, i.e., debits to Mirror (of NOSTRO) accounts or VOSTRO accounts, for purposes other than exports, involving amounts equivalent of Rs.1,00,000/- and above as per the format enclosed.

 

(xi)

Exchange Control copies of import licences which have been fully utilised/expired, under a covering schedule giving licence numbers and dates.

 

(xii)

Selected large branches of ADs (critical branches) who have been advised to submit the data relating to sale and purchase transaction with public duly classified purpose-wise, on a floppy, should submit the floppy along with R-Returns.

 

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