Sub: Dispensing with SDF form submitted along with Shipping Bills for export of goods - reg.

 

A Committee constituted by Ministry of Commerce and Industry has recommended the reduction of documents for import and export of goods in order to reduce transaction cost.  

 

An exporter is required to submit the SDF form along with Shipping Bills for export of goods, which RBI has recently dispensed in case of exports taking place through the EDI ports. Consequently, RBI has desired that the declaration of foreign exchange remittance under the Foreign Exchange Management Act, 1999 ( as 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.”

 

Thus, declaration as mentioned above should be furnished by exporters as part of the declaration in the Shipping Bill with immediate effect; vide Notification No.46/2015-Customs (N.T.), dated 18.05.2015 issued by Board to incorporate the aforementioned declaration in lieu of SDF form in the Shipping Bill.

 

 For original Circular, please click here.