What changed
RBI replaced the existing GR/PP forms for export of goods from non-EDI ports with a single Export Declaration Form (EDF). For software exports, a common SOFTEX form now covers both single and bulk declarations. Exporters must declare all transactions, including those below US$25,000, using these new forms.
What it means for you
Banks and ADs must update their export documentation processes to accept the new EDF and SOFTEX forms from October 1, 2013. The shift to online generation of form numbers via RBI's website reduces manual intervention, streamlining compliance for exporters. All export declarations, regardless of value, now require the new forms, ensuring uniformity.
What you must do
- Inform all exporter clients about the new EDF and SOFTEX forms effective October 1, 2013.
- Update internal systems to accept and process the new forms for export declarations.
- Guide exporters on online generation of EDF/SOFTEX form numbers via RBI website.
- Ensure no manual allotment of form numbers is accepted after the effective date.
Who it affects
Authorised Dealers in foreign exchange, Exporters of goods and software, RBI regional offices handling manual form number allotment
What forms are being replaced by the new EDF?
The EDF replaces the existing GR and PP forms for export of goods from non-EDI ports.
Do I need to declare exports below US$25,000?
Yes, all export transactions, including those less than US$25,000, must be declared using the applicable new form.
How do exporters get the new form numbers?
Exporters can generate EDF and SOFTEX form numbers online through RBI's website, replacing the earlier manual allotment by RBI regional offices.