CHEMEXCIL
Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India) |
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Ref:EPC/LIC/SDF |
21.05.2015 |
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ALL MEMBERS OF THE COUNCIL
Dear Members,
As you are aware, Government has taken number of measures to enhance the ease of doing business and also reduced the number of mandatory documents for import and export of goods in order to reduce transaction cost.
To further liberalise and simplify the procedures, RBI has issued notification no RBI/2014-15/599, A.P. (DIR Series) Circular No.101 dated 14th May 2015 wherein it has been decided to dispense with the requirement of declaring the export of Goods /Software in the SDF in case of exports taking place through the EDI ports. As a way forward, declaration of foreign exchange remittance under the Foreign Exchange Management Act, 1999 (given below) may be made a part of the Shipping Bill.
“I/We undertake to abide by provisions of Foreign Exchange Management Act, 1999, as amended from time to time, including realization / repatriation of foreign exchange to / from India.”
DGFT has endorsed this proposal. Accordingly, CBEC has also issued Notification No.46/2015-Customs (N.T.), dated 18.05.2015 to incorporate the aforementioned declaration in lieu of SDF form in the Shipping Bill.
Members are requested to take note of above change.
Thanking You,
Yours faithfully,
(S.G.BHARADI)
ACTG.EXECUTIVE DIRECTOR
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