Government of India, through Notification No. 5 (RE-98) 1997-2002 dated April 30, 1998, announced amendments to the Export and Import Policy 1997-2002. Key changes include replacing “basic custom duty” with “basic custom duty and special customs duty” in paragraph 7.25, revising the transfer conditions of DEPB to specify the import port as the one from where exports originated in paragraph 7.32, and allowing the establishment of electronic hardware units without minimum net foreign exchange (NFE) earnings as mentioned in paragraph 9.5.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE
NOTIFICATION NO. 5 (RE-98) 1997-2002
NEW DELHI: 30.4.1998
Export and Import Policy, 1997-2002 (incorporating amendment made upto 13.4.98) , the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (incorporating amendment made upto 13.4.98)
The word and expression `basic custom duty’ appearing in the third sentence of paragraph 7.25 shall be replaced by the word and expression `basic custom duty and special customs duty’.
The second sentence of paragraph 7.32 shall be amended to read as follows:
“The transfer of DEPB shall, however, be for import at the port specified in the DEPB which shall be the port from where exports have been made”.
The last sentence of paragraph 9.5 shall be amended to read as follows:
“Notwithstanding the above, electronic hardware units shall be allowed to be set up without stipulation of a minimum NFE earning as a percentage of exports/export obligation”
This issues in public interest.
Sd/-
(N.L.Lakhanpal)
Director General of Foreign Trade and ex-officio
Additional secretary to the Government of India
(F.No. PRU/AS/98-99/RE Policy)
