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Dear Members,
This is further to our earlier circular regarding EDPMS caution listing of exporters and feed-back on issues faced, if any.
Based on the feed-back received, the council had taken up the matter with the Reserve Bank of India and an extension up-to 20th April 2017 was granted. However, council has received further representations that despite extension, the entries are still not cleared in EDPMS and banks are not handling the shipping documents. Subsequently, council has once again represented to RBI for additional time to exporters to follow-up with their AD’s and clear the entries in EDPMS system.
Taking cognizance of the representations from the Trade & Industry, RBI has granted further temporary exemption to exporters whose IE codes are appearing in caution-list in EDPMS up-toMay 20, 2017 to clear the entries in the system.
As per communication received from The Chief General Manager, Reserve Bank of India
Foreign Exchange Department, Central Office, Mumbai, the extension will be operationalized as under:
“For any exporter, if the outstanding export bills’ amount is up-to 20 per cent of total export bills or the number of open export bills is up-to 10 as indicated in the caution list appearing in EDPMS site, then AD banks should not treat such exporters as caution listed till May 20, 2017 subject to satisfaction of the AD based on following documentary evidence:
(i) The exporter has declared that the export proceeds have been realized in full for the export bills lying open in EDPMS and eBRC has been issued by bank/s and necessary reconciliation will be completed within 15 days.
(ii) In cases where the bills are not realized / partially realized, then the exporter should have submitted request to AD/s for (a) extension of time for realization of export bills and / or (b) request to AD/s for write off of export bills (fully or partially, as the case may be).
(iii)Request for cancellation of shipping bill has been submitted by the exporter to the Customs.
2. Exporters not falling within above category i.e. the outstanding export bills’ amount is more than 20 per cent of total export bills and the number of open export bills is more 10 shall have to obtain requisite approval from RBI.
3. It is clarified that:
i. Export bills for ‘free of cost’ exports having requisite indicator of Customs do not lead to caution listing
ii.Export bills in respect of goods reimported on account of quality issues or other reasons are required to be lodged and closed in EDPMS by providing necessary details.”
Members are requested to take note of this temporary exemption up-to 20th May 2017 and do the needful within the timelines. In case issues still persist, please write to us onDeepak.gupta@chemexcil.gov.in and info@chemexcil.gov.in .
Thanking You,
Yours faithfully,
S.G. BHARADI
EXECUTIVE DIRECTOR
CHEMEXCIL
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