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BASIC PROCEDURES AND
FORMALITIES IN EXPORTS
An

exporter

sales contract with

enters into a

overseas

buyer and prepares

a

Proforma invoice
...
After

Commercial invoice

producing

and packing3

the
along with goods to

customs
...

verification of goods is also
sessment of value
...
About goods

2
...


as
are customers

per KYC

norms
...


and
Code or Licence)

Buyer (Status report)

regulatory

declaration

to

Banks

from India,
1
...
Assuring guaranteed
times limits
3
...
Through banking

channels
...


It will be certified by
Duplicate
...

This declaration
be submitted to
to
has
to RBI and duplicate

Original is sent
Declaration

fhree
forms are of

fypes

by customs in
1
...
SDF (Statutory
in

3
...


for export by post
...
SOFTEX forms

(for software

exports)

are

used

Submission of GR form is exempted for exports upto USD$25,000
Giffs of value up

to Rs
...


fo
Documents have to be submitted within 21 days after date of shipment
Banks for realization of proceeds, Exporters must submit export documentsS

which consists of

a) Commercial documents (Invoice
...
)

(Bill of Lading, Airway Bill etc
...

for export bills
...


cases

exporter's

When the proceeds are realized, the advances will be liquidated
...


YEAR FROM DATE OF REMITTANCE
...
Return of funds after

1year

permission from RBI
...


If proceeds are not realized within 12 months from date of shipment for genu
ine reasons, the exporter may seek permission from Bank to extend fime limit

for realization
...
There should have been adequate follow up
...
Exporter should produce documentary evidence

for reason of

non-payment
...
Bills are not subject to investigation by Enforcement Directorate
or Central Bureau of Investigation (CBI)

4
...

5
...

In case of Software exports in non-physical form, Software Technology Parks

(STP) will certify data transmission (in triplicate)
Invoice is to be prepared by exporter within 15 days from date of transmission

Within 30 days from date of invoice, exporter has to submit the triplicate copy
certified by STP

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