Closing of Old Outstanding Bills : Export-Follow-up-XOS Statements

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ପ୍ରକାଶିତ ତାରିଖ ଅକ୍ଟୋବର 14, 2013

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Closing of Old Outstanding Bills : Export-Follow-up-XOS Statements

RBI/2013-14/325
A.P. (DIR Series) Circular No. 62

October 14, 2013

All Category - I Authorised Dealer Banks

Madam / Sir,

Closing of Old Outstanding Bills:
Export-Follow-up –XOS Statements

Attention of Authorized Dealer Category – I (AD Category – I) banks is invited to A. P. (DIR Series) Circular No. 12 dated September 9, 2000 in terms of which AD Category – I banks are required to furnish to the Regional Office concerned of the Reserve Bank, a consolidated statement in Form XOS giving details of all export bills outstanding beyond six months from the date of export on a half yearly basis as at the end of June and December every year.

2. On a review, it has been decided that an old export bill may be closed by AD banks as a one time measure, provided that the case is not subject matter of any pending civil suit /criminal suit ; the exporter has not come to the adverse notice of the Directorate of Enforcement (DoE) / Central Bureau of Investigation (CBI)/Directorate of Revenue Intelligence (DRI) /any such other law enforcement agency; has no externalisation problems with the export receipient countries and the export bill falls under following categories:

With ceiling of USD 1, 00,000 and outstanding beyond 15 years as on December 31,2012
With ceiling of USD 50,000 and outstanding for more than 5 years as on December 31, 2012, where customers not traceable subject to proof of non traceability from competent authority and under bank’s internal boards approved policy.

3. Report of closed cases should be submitted to concerned Regional Offices of Reserve Bank of India by AD banks in an excel sheet as per the format given in Annex.

4. After closing of cases, there will be no further follow up by ADs andthese outstanding bills will not be reported in future Export Outstanding Statements (XOS).

5. The directions contained in this circular have been issued under sections 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(C.D Srinivasan)
Chief General Manager

Annex

Format for submitting of Export Outstanding data

*M-Mandatory, O-Optional

S.No.	Field	Type	Width	M/O*	Remarks
1	AD code of the bank	Varchar	7	M
2	Imp/Exp code No.	Varchar	10	M
3	Name of the Exporter	Varchar	40	M
4	Exporter’s address Line 1	Varchar	50	O
5	Exporter’s address Line 2	Varchar	50	O
6	City	Varchar	30	O
7	Pin code	Varchar	6	O
8	Export under GR/SDF	Varchar	6	M	Values: GR/SDF/SOFTEX
9	Export bill no	Varchar	20	M
10	Export bill date	Date	10	M
11	Port code	Varchar	15	M
12	Shipping bill no	Varchar	10	M
13	Shipping bill date	Date	10	M
14	GR/PP/SDF no.	Varchar	15	M
15	Date of Export	Date	10	M
16	Due date of realization	Date	10	M
17	Extension Granted	Varchar	1	M
18	Extn. granting authority	Varchar	4	O	Is extension granted: Yes/No
19	Extn granted up to	Date	10	O	Mandatory, if extension granted is yes
20	Country of Export	Varchar	2	M
21	Commodity	Varchar	3	M
22	Invoice Currency	Varchar	3	M
23	Invoice Amount (FC)	Numeric	15	M
24	Invoice Amount (INR)	Numeric	15	M
25	Realized currency	Varchar	3	M
26	Realized Amount (INR)	Numeric	15	M
27	Out-standing Amt. (INR)	Numeric	15	M
28	Overseas Buyer Name	Varchar	40	M
29	Overseas Buyer address1	Varchar	35	O
30	Overseas Buyer address2	Varchar	35	O
31	Overseas Buyer Country	Varchar	20	O
32	Overseas Buyer Pin code	Varchar	10	O
33	Bill Realized? (Y/N)	Varchar	1	O
34	Realization date	Date	10	O
35	Remark if any	Varchar	35	O