Revised export and import rules take effect with shorter export payment timelines
The Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 now govern declarations, receipts, payments and monitoring of cross-border trade. Although the framework was issued in January, its October commencement makes implementation relevant to this issue. Companies exporting services, including software, should review the Export Declaration Form requirements and the applicable submission arrangements with their authorised dealer.
The September amendment changed the originally notified export-realisation periods from 15 months to nine months, and from 18 months to 12 months for exports invoiced or settled in rupees. The starting date depends on the transaction: shipment for ordinary goods exports, the invoice date for services, and sale from the overseas warehouse for warehouse exports. Project exports retain their contractual payment terms, and authorised-dealer extensions remain available under the regulations.
The amendment also allows authorised dealers to handle specified transactions undertaken before 1 October that previously required RBI approval. Boards should seek assurance that receivables monitoring, service-export declarations and outstanding trade documentation have been updated for the operative rules.
