In exercise of powers conferred under Paragraph 2.4 of the of the Foreign Trade Policy, 2004-09, the Director General of Foreign Trade hereby makes the following addition in the list of Export Promotion Councils/ Commodity Board given under Appendix-2 of the Hand Book of Procedure.
The Principal notification was published in the Gazette of India, Extraordinary, vide Notification No.36/2001 – Customs (N.T.), dated, the 3rd August, 2001 (S.O.748 (E), dated, the 3rd August, 2001) and was last amended vide Notification No. 69/2007-Customs (N.T.), dated, the 18th July,2007 (S.O.1171(E) dated 18th July,2007).
In view of the clear intention of Transitional Arrangements and nature of standby letters of credit, brought out above, it is clarified that while examining the documents submitted by applicant under Para 1.5 of FTP, it needs to also be ensured that the payments for exports covered under the documents are routed and deducted through the concerned commercial letter of credit and not from some other accounts/channels.
