In an attempt to rationalise and simplify the regulations and directions governing the import and export transactions, the Reserve Bank of India (‘RBI’) on 2 July 2024, released the draft Foreign Exchange Management (Export and Import of Goods and Services) Regulations 2024 (‘Draft Trade Regulations’) and the draft direction on export and import of goods and services (‘Draft Trade Directions’). The Draft Trade Regulations and Draft Trade Directions are intended to promote ease of doing business and impart operational flexibility to authorised dealer banks (AD Banks) in line with the changing dynamics of cross border trade transactions.
Considering the appreciable effect of the proposed change on several businesses, Lakshmikumaran & Sridharan Attorneys is pleased to organise a webinar on 15 July 2024 (Monday) from 3:00 PM – 4:15 PM.
This webinar will comprise of a detailed discussion covering the following issues:
- Declaration for export of goods, services and software in a master form – Form EDF
- Revision in payment guidelines and timelines for import and export transactions
- Liberalisation of the set-off process and revamp of write-off provisions: Surrender of export incentives?
- Simplification of Merchanting Trade Transactions (MTT)
- Compounding to the rescue – Pravaah’s role in facilitating regulatory synergy
Speakers:
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- Vasudevan – Executive Partner, LKS
- Asish Philip Abraham – Partner, LKS