Monthly Archives: September 2013
September 19 2013
Further to our updates on 5th September, 2013 "Restrictions on end use of ECB liberalized" RBI has has taken a step further to attract use of ECB's in India Inc. Infrastructure Space.
RBI has widened the definition of Infrastructure Sector so as to add new areas where availing of ECB's is now permitted. Accordingly, the expanded definition includes the following:
- Energy Sector: (i) electricity generation, (ii) electricity transmission, (iii) electricity distribution, (iv) oil pipelines, (v) oil/gas/liquefied natural gas (LNG) storage facility (includes strategic storage of crude oil) and (vi) gas pipelines (includes city gas distribution network);
- Communication Sector:(i) mobile telephony services / companies providing cellular services, (ii) fixed network telecommunication (includes optic fibre / cable networks which provide broadband / internet) and (iii) telecommunication towers;
- Transportation Sector:(i) railways (ii) roads and bridges, (iii) ports, (iv) inland waterways, (v) airport and (vi) urban public transport
- Water and sanitation:(i) water supply pipelines, (ii) solid waste management, (iii) water treatment plants, (iv) sewage projects (sewage collection, treatment and disposal system), (v) irrigation (dams, channels, embankments, etc.) and (vi) storm water drainage system;
- Social and commercial infrastructure:(i) hospitals, (ii) Hotel Sector, (iii) common infrastructure for industrial parks, SEZs, tourism facilities, (iv) fertilizer (capital investment), (v) post harvest storage infrastructure for agriculture and horticulture produce including cold storage, (vi) soil testing laboratories and (vii) cold chain
- (i) mining, (ii) exploration and (iii) refining;
September 13 2013
- RBI comes out with a circular revising the declaration forms used for Export of Goods/software:
- The erstwhile exemption for exporters exporting less than US$25000 has been withdrawn. Every exporter is now required to file the revised declaration forms regardless of the quantum of amount
- A common form called " Export Declaration Form" (EDF) has been devised to declare all types of export of goods from Non-EDI ports & a common "Softex form " to declare single as well as bulk software exports.
- Extension of facilities to exporters for online generation of SOFTEX Form No (single as well as bulk) for use in off-site software exports, in addition to EDF Form No.