The regulatory FEMA framework governing the export and import of goods and services has undergone an important change with the introduction of the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, effective from 1 October 2026.
Please find attached our Newsflash on the revised RBI framework for export and import transactions, effective 1 October 2026.
The key changes include:
• Introduction of monthly EDF filing for export of services
• Revised timelines for export realisation and import payments
• Simplified closure of eligible transactions up to Rs.10 lakh
• Consequences for long-outstanding export and import transactions
• Wider powers delegated to AD Banks
• Five-working-day reporting timeline for AD Banks
• AD Bank handling of certain transactions undertaken before 1 October 2026.
The attached Newsflash provides a concise overview of these changes and their practical implications. Businesses should review their existing EDF, EDPMS and IDPMS processes and engage with their AD Bank to understand the applicable documentation and operating procedures.
We trust you will find the attached Newsflash useful.
Click here to download- RSM India Newsflash - New FEMA Framework for Export and Import Transactions effective 1 October 2026
