What the rule requires
Export proceeds must be received in India within a prescribed period from the date of export. Miss it without an extension and you are in contravention of FEMA, with penalties that can be a multiple of the amount involved.
The window has changed more than once recently. It moved to 9 months for certain 2026 date ranges, then back to a longer window afterwards. The period that applies to your shipment depends on when it was exported — not on today’s rule. Check the notification in force on your date of export.
Why this catches people out
Two shipments in the same financial year can sit on different clocks. An exporter who assumes one number for everything will misjudge the older shipments — which are exactly the ones closest to breaching.
When a shipment is going to miss the date
- Act early, not at the deadline. Extensions are considered on merit; a request made with weeks to spare is treated very differently from one made after the fact.
- Approach your AD bank. Authorised Dealer banks can grant extensions in defined circumstances. Beyond their limits, the matter goes to RBI.
- Bring evidence of effort. The email trail showing you chased the buyer, the reminders sent, the dates — this is what supports a genuine case. An exporter who cannot show they pursued payment has a weak one.
- Document the reason. Buyer insolvency, a dispute, a force-majeure event at destination — the cause matters.
The practical takeaway
The dangerous shipment is not the one that is late. It is the one that is late, owed by a buyer who habitually pays late, on the shorter clock — and nobody is counting. Track the days per shipment, and escalate at 60 days remaining rather than 6.