Submission of export documents - FEMA Ready Reckoner - FEMA

Submission of export documents Submission of export documents - Regulation 10 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 read with section 7 of FEMA, Act. The documents pertaining to export shall be submitted to the authorised dealer mentioned in the relevant export declaration form, within 21 days from the date of export , or from the date of certification of the SOFTEX form. Provided that, subject to the directions issued by the Reserve Bank from time to time, the authorized dealer may accept the documents pertaining to export submitted after the expiry of the specified period of 21 days, for reasons beyond the control of the exporter . Transfer of documents - Regulation 11 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 read with section 7 of FEMA, Act. Without prejudice to Regulation 3 , an authorised dealer may accept , for negotiation or collection, shipping documents including invoice and bill of exchange covering exports, from his constituent (not being a person who has signed the declaration in terms of Regulation 3 ) : Provided that before accepting such documents for negotiation or collection , the authorised dealer shall a) where the value declared in the declaration does not differ from the value shown in the documents being negotiated or sent for collection, or b) where the value declared in the declaration is less than the value shown in the documents being negotiated or sent for collection, require the constituent concerned also to sign such declaration and thereupon such constituent shall be bound to comply with such requisition and such constituent signing the declaration shall be considered to be the exporter for the purposes of these Regulations to the extent of the full value shown in the documents being negotiated or sent for collection and shall be governed by these Regulations accordingly.