Section 9 in The Foreign Exchange Management (Export Of Goods And Services) Regulations, 2000
9. Period within which export value of goods/software to be realised. - [(1)] The amount representing the full export value of goods or software exported shall be realised and repatriated to India within [nine months] [Substituted for the words "twelve months" by Notification No. G.S.R. 362 (E) dated 28.4.2014 (w.e.f. 8.5.2000)] from the date of export:
[* * *] [Omitted Notification No. G.S.R. 342(E) dated 25.4.2013 (w.e.f. 8.5.2000)]Provided that where the goods are exported to a warehouse established outside India with the permission of the Reserve Bank, the amount representing the full export value of goods exported shall be paid to the authorised dealer as soon as it is realised and in any case within fifteen months from the date of shipment of goods:Provided further that the Reserve Bank, or subject to the directions issued by that Bank in this behalf, the authorised dealer may, for a sufficient and reasonable cause shown, extend the said period of [nine months] [Substituted for the words "twelve months" by Notification No. G.S.R. 362 (E) dated 28.4.2014 (w.e.f. 8.5.2000)] or fifteen months, as the case may be.Explanation. - For the purpose of this regulation, the "date of export" in relation to the export of software in other than physical form, shall be deemed to be the date of invoice covering such export.(2)[(a) Where the export of goods or software has been made [* * *] [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).] [by a Status Holder Exporter, as defined in the Exim Policy in force,] [Inserted by G.S.R. 473(E), dated 1.4.2002 (w.e.f. 8.7.2002).][then notwithstanding anything contained in sub-regulation (1), the amount representing the full export value of goods or software shall be realised and repatriated to India within twelve months from the date of export:Provided that the Reserve Bank may for a sufficient and reasonable cause shown, extend the said period of twelve months.(b)The Reserve Bank may for reasonable and sufficient cause direct that the [said exporter/s][shall cease to be governed by sub-regulation (2): [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).]Provided that no such direction shall be given unless the [said exporter] [Inserted by G.S.R. 199(E), dated 27.2.2001 (w.e.f. 27.2.2001).] [has been given a reasonable opportunity to make a representation in the matter.(c)On such direction, the [said exporter/s] shall be governed by the provisions of sub-regulation (1), until directed otherwise by the Reserve Bank.]]
