Public Notice No. 5 (RE-99)/1997-2002, dated 19th April 1999, issues amendments to the Export and Import Policy (1997-2002). The corrections primarily focus on the Export Obligations, DEPB schemes, and customs duties for capital goods in various sectors. Notable changes include adjustments to the Export Obligation table, outlining the revised periods and amounts for various sectors such as electronics, textiles, and pharmaceuticals. The export obligation is set to 4 times the CIF value for capital goods under a 10% duty, with more favorable terms for sectors like biotechnology and software. Other amendments include the removal of the term ‘average’ from paragraph 7.4A and updates to the classification of export and import items under the ITC(HS). These amendments aim to streamline the procedures and ensure clarity in the export-import policy.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE
NOTIFICATION NO.5 (RE-99) 1997-2002
NEW DELHI: 19th April, 1999
In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 31.3.99), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (incorporating amendment made upto 31.3.99).
1. The main heading of chapter 4 shall be corrected to read as “GENERAL PROVISIONS REGARDING EXPORTS AND IMPORTS’.
2. The words and expression ‘HS Classification of Exports and Import items’ appearing after the words and expression ‘ ITC(HS) Classifications of Export and Imports items’ in paragraph 4.1 and 4.10 shall stand deleted.
3.The table given under paragraph 6.2 shall be corrected to read as under:
|
Customs Duty |
Export Obligation |
Period |
|
|
FOB Basis |
NFE Basis |
||
|
10% |
4 times CIF value of capital goods |
Not applicable |
5 years |
|
Zero duty (in case CIF value is Rs.20 cr. or more) |
6 times CIF value of capital goods |
5 times CIF value of capital goods |
8 years |
|
a) Zero duty in case CIF value is Rs.1 Cr. or more for electronics, food processing, textiles, plastic leather, sports goods, gem & Jewellery sectors and produce and products of agriculture, aquaculture, animal Husbandry, floriculture, horticulture, pisciculture, viticulture, poultry, Sericulture. Bio-technology sector, the following sub–sectors of Engineering sectors; Machine tools, parts & accessories thereof; automotive components and accessories; bicycle parts and accessories; handtools, cutting and small tools; castings and forgings (ferrous and non-ferrous) all sorts; pumps, electric motors and parts thereof, fasteners, all types (ferrous and non-ferrous); bright bars and shafting; scientific and surgical instruments and the following sub sectors of chemicals; Drug and drug intermediates, Dyes and Dyes intermediate, inorganic chemicals, organic chemicals (b) Zero duty in case CIF value is Rs.10 lakhs or more for Software sector |
6 times CIF value of Capital goods
6 times CIF value of capital goods |
5 times CIF value of Capital goods
5 times CIF value of capital goods |
6 years
6 years |
4. The word ‘average’ appearing in second sub paragraph 7.4A shall stand deleted.
This issues in public interest.
(N.L.Lakhanpal)
Director General of Foreign Trade and ex-officio
Additional secretary to the Government of India
(Ajay Sahai)
Jt. Director General of Foreign Trade
