RBI increases time limit for depositing forms for project exports and service contracts

New Delhi, Jun 26 (KNN)  The Reserve Bank of India has decided to increase time limit for submitting the DPX1, PEX-1 and TCS-1 forms by exporters undertaking project exports and service contracts abroad from 15 days to 30 days.

“It has been decided to increase the time limit and henceforth the exporter undertaking project exports and service contracts abroad should submit form DPX1, PEX-1 and TCS-1 to the approving authority such as AD Bank , Exim Bank,  Working Group, within 30 days of entering into contract for grant of post-award approval,” RBI said in a notification.

The services falling under the present RBI notification are preparation of project and feasibility reports, drawings, designs, supply of technical know-how and engineering services in different fields, operation, maintenance and supervision of manufacturing plants, buildings and structures and management of contracts for commercial concerns. (KNN)