The Reserve Bank of India in its circular dated 1st April 2020 has decided to extend the period of realisation of export proceeds. The time period for realization 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.
Since RBI has been receiving representations from Exporters Trade bodies to extend the period of realisation of export proceeds in view of the outbreak of COVID- 19. It has, decided to increase the present period of realization and repatriation to India of the amount representing the full export value of goods or software or services exported, from 9 months to 15 months.
Click here to read the circular.
