Reserve Bank of India (RBI) has issued the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, effective from 01st October, 2026.
By virtue of these regulations, a detailed procedure has been prescribed to be followed by exporters of goods and services as well as by the Authorised Dealer, i.e., the bank, while undertaking export of goods and services, with the objective of facilitating ease of doing business, such as:
An exporter of goods must submit an Export Declaration Form (EDF) to the specified authority at the time of export, declaring the full export value of the goods.
An exporter of services must submit an EDF to the specified authority within 30 days from the end of the month in which the invoice for services is raised, declaring the full export value of the services.
An Authorised Dealer (bank) shall credit or debit the exporter’s or importer’s account for export receipts or import payments only after verifying the genuineness of the transaction and shall update or close the relevant entry in EDPMS or IDPMS accordingly.
For more information, please refer to the attached document.
