The undersigned is directed to invite your attention to the above mentioned subject and to say that in the wake of representations from the trade and industry that the present export documentation procedure is complex and cumbersome and that under the system the exporters are required to submit a large number of documents and declarations to the Customs, causing delays and adding to the transaction cost, the Government had set up a Sub-Committee under the chairmanship of the Chief Commissioner of Customs, Delhi to study the problem in all its aspects and make recommendations.
The merits of these representations were considered in this office and it is clarified that Service Providers like Customs House Agents, etc. shall be entitled for benefits under Served From India Scheme for the services exclusively rendered by them and for which the foreign exchange earnings are received and retained by them on this account.
RBI Guideline on Submission of Annual Information Return relating to issue of Bonds for Rs. 5 lakh or more under Section 285 BA of Income Tax Act, 1961
