The Reserve Bank of India on 8th January 2021 has published the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021 to further amend Foreign Exchange Management (Export of Goods & Services) Regulations, 2015.
The Amendment is brought under regulation 4 in which export of goods/software may be made without furnishing the declaration during re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil Aviation for such export/s.”
