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In exercise of powers conferred under section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.3 and 4.1 of the Export and Import Policy, 1997-2002, the Central Government hereby makes the following amendments in the ITC(HS) Classifications of Export and Import Items , 1997-2002 published on 31st March, 1997 (RE-98) as amended from time to time, namely.
Pursuant to the discussions and the decisions of the Group on Risk Management in Equity Markets the following are the risk containment measures for the rolling settlement and for the products of CNS, CFRS and the ALBRS
WHEREAS in the matter of import of Polyester film, falling under sub-heading No. 3920.69 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in, or exported from People’s Republic of Korea and Indonesia, the designated authority vide its preliminary findings, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 14th August, 2000.
The matter has been considered in ALC 22/01 dated 5.10.2000. During the meeting it has been pointed out that while allowing the import of Horns and Hoofs, sensitivity of “Mad Cow Disease” is to be examined and thus it has been decided that hereafter no advance licence should be issued by RLAs for import of items like Horn, Hoof & other organs of animals under Para 7.5 of Hand Book of Procedure (Vol.I). All applications for import of such items should be forwarded to Headquarters for consideration.
Attention is invited to Policy Circular No. 17 dated 14th July, 2000 containing the guidelines for the import of cars, microbuses etc by the Hotel industry and the Tourism Industry under 5% EPCG scheme. Under the present dispensation, both the Hotel and the Tourism Industry are required to execute the bank guarantee (BG), to the extent of 100% of the duty saved amount on import of car under the 5% EPCG Scheme, irrespective of the status of the licence holder.
