After careful consideration of the references in this regard it has been clarified by the Policy Review Committee meeting that in case of Value Based Advance Licence, the import entitlement is with reference to value addition and not minimum value addition as is the case with Quantity Based Advance Licences. Therefore, if a firm fails to achieve declared value addition, the case of the firm has to be regularized as per Policy Circular No.28/2000-2001 dated 22.9.2001.
The matter was deliberated upon in the Policy Review Committee (PRC) on 08.10.2001 wherein the Committee felt that Appendix 39 of the Handbook of Procedures (Vol 1) unmistakenly pertains to exports to Rupee Payment Areas (RPA) and is in no way linked to deemed exports. The PRC also kept in perspective the earlier clarification issued by the Policy Division to the regional offices on the applicability of positive value addition for Advance Licence for deemed exports based on the rationale of inapplicability of Appendix 39 to deemed exports.
The Public Notice No. 67 (RE-2001) dated 01/02/2002 introduces amendments to the Export-Import Policy 1997-2002, affecting various product categories.
Indian Rupee Value of the special currency Basket for the purposes of deferred payments contracts entered into under the Deferred payments protocol dated the 30th April, 1981 for the period l.l.81 to 31.12.85 and the Deferred payments protocol dated 23rd December, 1985 for the period l.l.1986 to 31.12.90 between the Government of India and the USSR relating to the deliveries of machinery and equipment from the USSR to India on deferred payment terms.
If the applications for obtaining DEPB credit in respect of exports of embroidered silk items have not been filed or not been accepted by the Regional Licencing Authority on account of their becoming time barred in terms of para 7.39 of the Handbook of Procedures (Vol 1) , such applications may be accepted by the Regional Licencing Authority. For this purpose , the licence holders may apply to the concerned Regional Licencing Authorities within a period of 60 days from the date of issuance of this Public Notice.
