AP (DIR Series) (2002-2003) Circular No. 2, dated 4-7-2002
Attention
of all authorised dealers is invited to A.P. (DIR Series) Circular No. 6 dated
24th September, 2001 in terms of which manufacturer exporters of certain
products and having export contracts of Rs. 100 crore and above in value terms
in one year have been allowed a period upto 365 days from the date of shipment
for the realisation and repatriation of full value of the exports of products
specified.
2. On
review it has been decided to include products of aluminium, petroleum
products, sugar and foodgrains as eligible products for exports with extended
period of realisation. It is clarified that the above facility would also be
available to merchant exporters/traders.
3. Authorised
Dealers may bring the contents of this circular to the notice of their
constituents concerned.
4. The
directions contained in the circular have been issued under section 10(4) and
section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).