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Procedures for Furnishing the Forms : The declaration form GR (in duplicate) shall be submitted in duplicate to the commissioner of Customs. After duly verifying and authenticating the declaration form the Commissioner of Customs will forward the original form to the nearest office of the Reserve Bank. The duplicate form is handedover to the exporter for being submitted to the authorised dealer with whom the export documents are negotiated.
The declaration form PP (in duplicate) shall be submitted to the authorized dealer in foreign exchange named in the form. The authorised dealer shall countersign on the form and handover the original form to the exporter. The exporter will submit the form to the postal authorities through which the goods are being despatched. The postal authorities after despatch of the goods, shall forward the declaration form to the nearest office of the Reserve Bank. On realisation of export proceeds the authorised dealer shall after due certification submit the duplicate form to the nearest office of the Reserve Bank.
The declaration form VPJCOD (single copy) shall be submitted to the postal authority with the relative parcel at the time of despatch. The postal authority shall send the form to the nearest office of the Reserve Bank.
Forward Rate : The rate quoted for delivery of foreign exchange in future at some agreed date, i.e., when the value date is more than two business days in future, is called the fo
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Permitted Methods : Export payment must be received in a currency appropriate to the country of final place of destination of the goods as declared on GR. etc., forms. Reserve Ran
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