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In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation ) Act, 1992 (No. 22 of 1992) read with Paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government hereby amends the Export and Import Policy, 2002-07 as under.
Fluctuation in the exchange rate would mean appreciation in the value of rupee at times or depreciation in its value some other times. Recently, due to continuous appreciation of Indian Rupee vis a vis major currencies, it is possible that the rate notified by Ministry of Finance may exceed the rate which export proceeds were actually realised. The matter has been represented to us.
However such extensions would not be permitted in the case of the erstwhile Value Based Advance Licences (VABALs). Additionally, no extension in export obligation would be allowed in respect of licences where misrepresentation/ fraud has come to the notice of the licencing authorities. Further, in respect of licences where adjudication orders have already been passed, no extension in export obligation period shall be admissible.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government hereby amends/corrects the Export and Import Policy, 2002-07 as under.
Taking into consideration the requests from eligible entities, the Directorate General of Foreign Trade in exercise of powers conferred under Paragraph 2.4 of the Export and Import Policy 2002-2007, as notified in the Gazette of India extraordinary, Part-II Section 3, sub Section (ii) vide S.O. No. 349(E) dated 31.03.2002 as amended from time to time and as per provisions at condition no. 1 of the annexure to notification no. 21/2002-customs dated 1.3.2002.
In exercise of powers conferred under paragraph 2.4 of the Export and Import Policy, 2002-07 and paragraph 1.1 of Handbook of Procedures (Vol.1), the Director General of Foreign Trade hereby makes the following amendments/additions/corrections in the book titled “Schedule of DEPB Rates.
Attention is invited to Paragraph 2.4 of the Export and Import Policy 2002-2007, as amended and Paragraphs 4.9 and 4.10 of the Handbook of Procedures, Vol.1, 2002-2007, as amended and also to the Handbook of Procedures, Vol.2, 2002-2007, as amended from time to time.
Attention is invited to Paragraph 2.4 of the Export and Import Policy 2002-2007, as amended and Paragraphs 4.9 and 4.10 of the Handbook of Procedures, Vol.1, 2002-2007, as amended and also to the Handbook of Procedures, Vol.2, 2002-2007, as amended from time to time.
Attention is invited to Public Notice No 14 dated 31.05.2002 and Public Notice No 33 dated 26.08.2002 which introduced a special provision for exemption of Special Additional Duty (SAD) on DEPB’s issued under the Exim Policy 2002-07 where the order of “let export” was prior to 01.04.2002. Para 7 of PN 14 dtd 31.5.02 is amended as under.
In exercise of powers conferred under Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with Paragraph 2.1 of Export & Import Policy, 2002-2007, the Central Government hereby makes the following amendments in the ITC (HS) Classification of Export and Imports items, 2002-2007.