Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021

Jan 12, 2021 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Reserve Bank of India on January 08, 2021 has issued the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021 to further amend the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015. 

The following amendments have been made: 

• Regulation 4 (ea), which specifies the de-registration of the aircraft/ helicopters/engines/ auxiliary power units, has been substituted, namely: 

“re-export of leased aircraft/ helicopter and/or engines/auxiliary power units (APUs), either completely or in partially knocked down condition re-possessed by overseas lessor and duly de-registered by the Directorate General of Civil Aviation (DGCA) on the request of Irrevocable Deregistration and Export Request Authorisation (IDERA) holder under ‘Cape Town Convention’ or any other termination or cancellation of the lease agreement between the lessor and lessee subject to permission by DGCA/Ministry of Civil Aviation for such export/s.”

[Notification No. FEMA 23 (R)/(4)/2021-RB]

 


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