Sponsored
    Follow Us:
Sponsored

Introduction:

The Ministry of Commerce and Industry, through the Directorate General of Foreign Trade (DGFT), has released a crucial update to the export policy of non-basmati rice. This amendment is a significant move for rice exporters, detailing specific conditions for the export of this essential commodity.

Background of the Amendment:

The Central Government, drawing power from the Foreign Trade (Development & Regulation) Act, 1992, alongside the Foreign Trade Policy, 2023, has relaxed some provisions set forth in Notification No.20/2023 dated 20th July, 2023.

Key Changes Outlined:

  1. Clarification on Notification No.20/2023:
    • The release time of the original notification is specified as 21:57:01 hours on 20.07.2023.
    • Export of non-basmati rice is allowed if the consignment was handed over to the Customs before this stipulated time and date and registered in the Customs system. Alternatively, it can be considered if the consignment entered the Customs Station for export before the given time, registered electronically with verifiable evidence.
    • The deadline for the export based on the above conditions is set to 30.10.2023.
  2. Export Duty Payment:
    • For the export to be valid, the export duty must have been settled before 21:57:01 hours on 20.07.2023.
  3. Clarifications on Phraseology:
    • In instances where “before this Notification” is mentioned in Notification No.20/2023 dated 20th July, 2023, it should be interpreted as “before 21:57:01 hours on 20.07.2023”.

Implications of the Notification:

By relaxing the provisions of the earlier notification, the government has paved the way for smoother exports of non-basmati white rice. The emphasis on the exact time of 21:57:01 hours on 20.07.2023 throughout the document indicates the government’s intent to be precise and transparent about its directives. Additionally, the explicit mentioning of the terms ensures that there’s minimal ambiguity for stakeholders.

*****

Ministry of Commerce and Industry
(Department of Commerce)
(Directorate General of Foreign Trade)
New Delhi

Notification No. 29/2023-DGFT | Dated: 29th August, 2023

Subject: – Amendment in Export Policy of Non-basmati rice under HS Code 10063090.

S.O. 3838(E).The Central Government, in exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023, hereby in relaxation of Notification No.20/2023 dated 20th July, 2023 allows export of non-basmati white rice under any of the following conditions:

i. The Notification No.20/2023 [S.O. 3249(E)] dated 20th July, 2023, was published in the Gazette of India at 21:57:01 hours on 20.07.2023. Therefore, Para 2 (iii) of Notification No.20/2023 [S.O. 3249(E)] dated 20th July, 2023 is amended as under:

“where Non-basmati rice consignment has been handed over to the Customs before 21:57:01 hours on 20.07.2023 and is registered in Customs system or where Non-basmati rice consignment has entered the Customs Station for exportation before 21:57:01 hours on 20.07.2023 and is registered in the electronic systems of the concerned Custodian of the Customs Station with verifiable evidence of date and time stamping of these commodities having entered the Customs Station prior to 21:57:01 hours on 20.07.2023. The period of export shall be upto 30.10.2023.

ii. Export duty is paid before 21:57:01 hours on 20.07.2023.

2. For removal of doubts, wherever the words/phrase “before this Notification” appears in the Notification No.20/2023 [S.O. 3249(E)] dated 20th July, 2023, the same shall mean “before 21:57:01 hours on 20.07.2023”

3. Effect of this Notification:

In relaxation of Notification No.20/2023 dated 20th July, 2023 export of non-basmati white rice is allowed when export duty is paid before 21:57:01 hours on 20.07.2023. Para 2 (iii) of Notification No.20/2023 dated 20th July, 2023 is amended to specify the date and time of effect of the Notification No.20/2023 dated 20th July, 2023.

[F. No. 01/91/171/010/AM23/EC/e- 33294]

SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex-Officio Addl. Secy.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031