Central Bank of India
Central Bank of India is a Government-owned Indian bank.
What has changed under the RBI regulations from 1 October 2026?
“RBI has introduced a revised framework for export and import of goods and services, including merchanting trade. It covers export declarations, receipt and payment timelines, advances, adjustments and reporting through banks. The aim is to simplify processes while ensuring compliance with FEMA and the Foreign Trade Policy. (RBI Regulations, 2026; RBI Circular dated 16 January 2026)”
View in the company profileDo these requirements apply to exports of services and software?
“Yes. The framework covers goods and services, including software. The reporting and declaration process may differ depending on the type of export and whether the unit is in a Domestic Tariff Area (DTA) or a Special Economic Zone (SEZ). (Regulations 2 and 3)”
View in the company profileDo I need to file an Export Declaration Form (EDF) for goods exported from India?
“Yes. For goods exported through an Electronic Data Interchange (EDI) customs port, the EDF is treated as part of the shipping bill. For exports through non-EDI ports, the declaration is made to the prescribed authority. (Regulation 3(1) and 3(3))”
View in the company profileHow and when should an EDF be submitted for export of services?
“Normally, an EDF for services must be filed within 30 days from the end of the month in which the service invoice was raised. An exporter may file one EDF covering services supplied to one or more customers during that month.”
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