ROSCTL Shipping Bills till 31.12.2020 Must be Retired by 15.07.2022 Failing which DGFT will Take Action to Reverse Benefits

[DGFT Trade Notice No. 12 /2022-23 dated 30 May 2022]

Subject:- Uploading of e-BRC by 15.07.2022 for shipping bills on which RoSCTL scrip has been availed from DGFT RAs.

Attention of the trade and industry members is brought to Para 4.96 (d) of Public Notice 58 dated 29.01.2020, wherein it has been stipulated that under RoSCTL, the rebate allowed is subject to the receipt of export proceeds within time allowed under the Foreign Exchange Management Act, 1999 failing which such rebate shall be deemed never to have been allowed. Action under the FT (D&R) Act, 1992 may be taken by the Regional Authorities for repayment of erroneous or excess paid RoSCTL. Earlier a Trade Notice No 13 dated 4th August 2021 had been issued urging all exporters to comply with the extant guidelines on realisation of export proceeds and get the process of uploading of eBRCs at the DGFT server completed by the AD Banks.

2. As per RBI guidelines, it is expected that all shipping bills upto 31.12.2020 would have their export proceeds realized by now. Accordingly, all exporting firms, who have been issued scrips under RoSCTL for exports / shipping bills upto 31.12.2020, are requested to get the relevant e-BRCs uploaded in the DGFT server by their AD banks latest by 15.07.2022, failing which action as per para 4.96 of HBP, as notified vide PN 58 dated 29.01.2020 would be initiated by the jurisdictional RAs.

3. This is issued with the approval of competent authority.

[Issued from F.No. 01/61/180/360/AM19/PC-3(Part2)]