Based on the feedback received from public and subsequent further consultations with various stakeholders, the draft Regulations and Directions have been further revised. The emphasis of revised Regulations is on enhancing ease of doing business and bringing all instructions onto a single document. The Regulations incorporate instructions issued to Authorised Dealers, including the processes to be followed by the Authorised Dealers for handling transactions related to export and import, which are at present issued separately as Directions to Authorised Dealers.
Comments/feedback on the draft Regulations and Directions may be forwarded via email by April 30, 2025, with the subject line “Feedback on draft regulations and directions on export and import under FEMA”.
The regulations provides the following:
Every exporter shall furnish to the specified authority, a declaration in the Form annexed to these Regulations, specifying the amount representing the full export value of the goods or services.The exporter shall submit to the Authorised Dealer the documents pertaining to export, within twenty-one calendar days from the date of shipment in case of goods or from the date of invoice in case of services.
