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Import of Goods Import Data Processing and Monitoring System (IDPMS)

FEMA - 65 - Dated:- 28-4-2016 - RBI/2015-16/385 A.P. (DIR Series) Circular No.65 April 28, 2016 To All Category-I Authorised Dealer Banks Madam / Sir, Attention of Authorised Dealers is invited to Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account Transaction) Rules, 2000 on import of goods read with A.P. (DIR Series) Circular No. 9 dated August 24, 20 .....

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ent processing of all import transactions and effective monitoring thereof. The Working Group had recommended development of a robust and effective IT- based system Import Data Processing and Monitoring System (IDPMS) on the lines of Export Data Processing and Monitoring System (EDPMS) in consultation with the Customs authorities and other stakeholders. 3. To track the import transactions through banking system, Customs will modify the Bill of Entry format to display the AD Code of bank concerne .....

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4. For non EDI (manual) Customs ports, till they are upgraded to EDI (computerised) ports, nodal branch of AD Category - I banks will upload Bills of Entry (BoE) data based on original BoE with stamp/signature of the Customs as submitted by importer. Under no circumstances, AD category - I banks will process the transactions till the concerned BoE is reflected in the IDPMS. Customs will share a copy of manual BoE with respective Regional Office of RBI for information as they presently do for sh .....

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off to the extent of 5% of invoice value in cases where the amount declared in BoE varies from the actual remittance marginally due to discounts, fluctuation in exchange rates, change in the amount of freight, insurance, etc. Cases, where write off is on account of quality issues; short shipment or destruction of goods by the port / Customs / health authorities, may be closed with remarks subject to submission of satisfactory documentation for the same, irrespective of the amount involved. ii) W .....

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mple check / percentage check of write-off of import bills; and iii) Cases not covered by the above instructions / beyond the above limits, may be referred to the concerned Regional Office of Reserve Bank of India. iv) The above guidelines are only meant to facilitate closure of bills in IDPMS and do not in any way absolve the importer from remitting / receiving the amount in case circumstances change. 7. Extension of Time i) AD Category - I banks can consider granting extension of time for sett .....

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While granting extension of time, AD Category -I banks must ensure that: a. The import transactions covered by the invoices are not under investigation by Directorate of Enforcement / Central Bureau of Investigation or other investigating agencies; b. While considering extension beyond one year from the date of remittance, the total outstanding of the importer does not exceed USD one million or 10 per cent of the average import remittances during the preceding two financial years, whichever is l .....

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