TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
PART-II, SECTION-3, SUB SECTION (ii)
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
