DGFT Notification No. 38/2009-2014 Dated: 09.04.2010
The government today imposed restrictions on export of cotton yarn in the wake of rising prices of the commodity in the country. As per a notification by the Directorate General of Foreign Trade, exports consignments of cotton yarn would now have to be registered with the textiles commissioner before they could leave the country.
“The contracts for export of cotton yarn shall be registered with the textile commissioner prior to shipment,” the notification said. Clearance of cotton yarn consignments would be cleared by the Customs after verifying that the contracts have been registered, it added.
The move would help the government to regularly monitor availability of the yarn in the domestic market.
NOTIFICATION NO. 38 /2009-14 , NEW DELHI, DATED 9th April, 2010
Subject: Compulsory registration of cotton yarn export contracts – regarding
S.O. (E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.3 and 2.1 of the Foreign Trade Policy, 2009-14, and also read with Notification No. 26 (RE 2008)/2004-09 dated 22.7.2008 the Central Government hereby makes the following amendments in the Schedule 2, Table B of ITC HS Classifications of Export and Import Items by inserting S.No.161 B, in Chapter 52, immediately after 161 A, with immediate effect, as under: –
|Sr. No.||Tariff Item Code||Unit||Item of Description||Export Policy||Nature of Restriction|
|161 B||5205||Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton not put up for retail sale||Free||The contracts for export of cotton yarn shall be registered with the Textile Commissioner prior to shipment. Clearance of cotton yarn consignments shall be given by Customs after verifying that the contracts have been registered.|
|5206||Cotton yarn (other than sewing thread), containing less than 85% by weight of cotton not put up for retail sale|
|5207||Cotton yarn (other than sewing thread), put up for retail sale|
2. This issues in public interest.
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO SPECIAL SECRETARY TO THE GOVT. OF INDIA
(Issued from File No.01/91/180/1194/AM10/Export Cell)