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| For exporters who are unable to realise the outstanding export dues, powers have been delegated to authorised dealers (ADs) to permit write-off up to 10 per cent of the total export proceeds realised by the concerned exporter during the preceding calendar year subject to certain conditions. |
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| Further, Status Holder exporters are permitted, on their own, to write off outstanding export proceeds up to an annual limit of 5 per cent of their average annual realisation during the preceding three years. To provide full flexibility to all exporters, it has been decided that: |
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| Beginning January 1, 2004, all exporters may write off outstanding export dues on their own and may also extend the normal period of realisation beyond 180 days on their own provided the aggregate value of such write-off and delay in realisation does not exceed 10 per cent of their export proceeds in a calendar year. |
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| It may be noted that all other existing procedures in regard to GR forms, export credit and export incentives will remain unchanged. |
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| Any exporter who expects to exceed the 10 per cent limit for the calendar year as a whole should obtain authorisation as per existing practice to the extent of excess over 10 per cent before the end of calendar year. |
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| Where multiple banking facilities are utilised by exporters, the computation for the limit of 10 per cent would apply in respect of each AD. |
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| If any exporter exceeds the limit of 10 per cent by the end of the year, without prior authorisation, this facility will be denied after giving due notice. |
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