FOREIGN EXCHANGE MANAGEMENT

With the transition to a market-based system for determining the external value of the Indian rupee the foreign exchange market in India gained importance in the early reform period.

Notifications

(31 kb)
Date : Apr 23, 2015
Foreign Exchange Management (Export of Goods & Services) (Amendment) Regulations, 2015

Reserve Bank of India
Foreign Exchange Department
Central Office,
Mumbai-400 001

Notification No. FEMA.342/RB-2014

April 23, 2015

Foreign Exchange Management (Export of Goods & Services)
(Amendment) Regulations, 2015

In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No.FEMA.23/2000-RB dated May 3, 2000 as amended from time to time, Reserve Bank of India makes the following amendment in the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000, as amended from time to time, namely:

1. Short title and commencement

(i) These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2015.

(ii) They shall come into force from the date of publication in Official Gazette.

2. Amendment to the Regulations

In the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 (Notification No.FEMA.23/2000-RB dated May 3, 2000) (hereinafter called “the principal regulations”), the following amendments shall be made, namely:-

In Regulation 3, for the Sub-Regulation (1), the following shall be substituted, namely:-

  1. “(1) In case of exports taking place through Customs manual ports, every exporter of goods or software in physical form or through any other form, either directly or indirectly, to any place outside India, other than Nepal and Bhutan, shall furnish to the specified authority, a declaration in one of the forms set out in the Schedule and supported by such evidence as may be specified, containing true and correct material particulars including the amount representing –”

  2. In Regulation 6, the word “SDF”, wherever appear, shall be deleted

  3. In the Schedule, the following shall be deleted,

    “Form SDF: To be completed in duplicate and appended to the shipping bill, for exports declared to Customs Offices notified by the Central Government which have introduced Electronic Data Interchange (EDI) system for processing shipping bills notified by the Central Government.”

(B P Kanungo)
Principal Chief General Manager


Foot Note:

The Principal Regulations were published in the Official Gazette vide G.S.R. No.409 (E) dated May 8, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended vide

  1. G. S. R. No.199 (E) dated March 21, 2001
  2. G. S. R. No.473 (E) dated July 8, 2002
  3. G. S. R. No.773 (E) dated September 29, 2003
  4. G. S. R. No.900 (E) dated November 22, 2003
  5. G. S. R. No.279 (E) dated April 23, 2004
  6. G. S. R. No.352 (E) dated June 8, 2004
  7. G. S. R. No.576 (E) dated August 5, 2008
  8. G. S. R. No.896 (E) dated December 17, 2012
  9. G. S. R. No.342 (E) dated May 29, 2013
  10. G. S. R. No.362 (E) dated May 27, 2014
  11. G. S. R. No.434 (E) dated July 8, 2014

Published in the Official Gazette of Government of India – Extraordinary – Part-II, Section 3, Sub-Section (i) dated 28.04.2015- G.S.R.No.326(E)

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