On May 2, 2006, the Directorate General of Foreign Trade issued Public Notice No. 06 (RE-2006)/2004-2009, amending Sub-para 6.22 (c) of the Handbook of Procedures Vol. I under the Foreign Trade Policy 2004-2009. The amendment specifies that units engaged in the export of agricultural, horticultural, or aquaculture products must have been operational for at least two years to qualify for certain benefits. If a unit has been in business for less than two years, it must provide a bank guarantee equivalent to the duty foregone on capital goods or inputs until it reaches the two-year mark. This change is intended to ensure compliance and safeguard against financial risks, and it was issued in the public interest.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
PUBLIC NOTICE NO. 6 (RE-2006) /2004-2009
NEW DELHI, DATED THE 2nd May, 2006
In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures Vol. I :
Sub-para 6.22 © shall be amended as under:-
“ (c)The unit has been in existence for at least two years and engaged in export of agriculture / horticulture/ aquaculture products; otherwise it shall furnish bank guarantee equivalent to the duty foregone on the capital goods/inputs proposed to be taken out to the Deputy/Assistant Commissioner of Customs/Central Excise till the unit completes two years.”
This issues in Public interest.
( K.T. CHACKO )
Director General of Foreign Trade and
Ex Officio Additional Secretary to the Government of India
(Issued from F.No. 01/92/180/017/AM07/PC-II)
