RESERVE BANK OF INDIA

RESERVE BANK OF INDIA FOREIGN EXCHANGE DEPARTMENT CENTRAL OFFICE MUMBAI 400 001 Notification No. FEMA 23(R)/2015-RB January 12, 2016 Amended upto June 23,2017) Foreign Exchange Management (Export of Goods Services) Regulations, 2015 In exercise of the powers conferred by clause (a) of sub-section (1), sub-section (3) of Section 7 and sub-section (2) of Section 47 of the Foreign Exchange Management Act; 1999 (42 of 1999) and in supersession of its Notification NoFEMA.23/2000-RB_dated_May_3_2000 as amended from time to time, Reserve Bank of India makes the following Regulations in respect of Export of Goods and Services from India, namely: 1. Short title and commencement: _ These Regulations may be called the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015. H1 They shall come into force from the date of their publication in the Official Gazette_ 2. Definitions:- In these Regulations, unless the context requires otherwise, Act means the Foreign Exchange Management Act; 1999 (42 of 1999) ii) 'authorised dealer' means a person authorised as an authorised dealer under sub-section (1) of section 10 of the Act; and includes a person carrying on business as factor and authorised as such under the said section 10 (iii) 'EXIM Bank' means the Export-Import Bank of India established under the Export-Import Bank of India Act; 1981 (28 of 1981); (iv) 'export' includes the taking or sending out of goods by land, sea or air; 0n consignment or by way of sale, lease, hire-purchase, Or under any other arrangement by whatever name called, and in the case of software, also includes transmission through any electronic media 'export value' in relation to export by way of lease or hire-purchase o under any other similar arrangement, includes the charges, by whatever

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