.The undersigned has been authorized to direct the exchanges to bring the provisions of this circular to the notice of the member brokers and also to disseminate the same on the website.
Attention is invited to Para 2.46 of the Foreign Trade Policy regarding regularization of EO default and settlement of customs duty and interest through the Settlement Commission in the Central Board of Excise & Customs. It has been decided that the decisions of the Settlement Commission, in so far as customs duty and interest thereon are concerned, may be complied with by the Licensing Authority in cases of EO default under intimation to the Adjudicating Authority for regularization purposes.
It has been brought to our notice that a large number of companies are still not in a state of preparedness to be fully compliant with the requirements as contained in the aforesaid circular. As it is our wont that all listed companies and companies.
The concerned stock exchanges are requested to put adequate systems in place to ensure compliance with the amendments at sr.no.2.5 above. The same may be done at the earliest and in any case not later than 90 days from the date of issuance of this circular.
It has been brought to the notice of Board that even though, the exporters have been exempted from declaration in GR/SDF/PP/Softex forms for export value upto US $ 25,000 as per RBI’s A.P.(DIR Series) Circular No.61 dated January 31, 2004, it is reported that some Custom offices still insist on submission for declaration.
Attention is invited to Para 3.2 of Handbook of Procedures Vol.I 2004-09, wherein the last date for filing of application for grant of Star Status Certificate has been prescribed as 1st of March. A number of representations have been received in Hqrs as well as by Regional Licensing Authorities requesting for extending the last date for submission of such applications for obtaining the Status Certificate for the period 2004-05.
I am directed to refer to Circular No. 784/17/2004-CX dated 30.04.2004 on the above subject which directed the field formations to keep show cause notices pertaining to above issue pending until the department’s SLP was finally decided by the Hon’ble Supreme Court
The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded). The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded). The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded). The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded). The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded). The undersigned is directed to invite attention to Board’s Circular No.58/2004-Cus. dated 21.10.2004 on the above subject and to say that a doubt has been raised as to whether a Surety is to be furnished alongwith Bond in the case of imports by Star Export Houses, Public Sector Undertakings etc. {vide para 3.1(a) to (e)} under Advance Licence and EPCG Schemes. It has been represented that since established exporters, Star Export Houses and Public Sector Undertakings have large volume of imports under Advance Licence and EPCG Schemes, it becomes difficult for them in arranging Sureties by another firm or person for each & every import. Besides, it adds to transaction cost. It has, therefore, been requested that the requirement of Surety for execution of Bond under Advance Licence and EPCG Schemes should be dispensed with in the case of Star Export Houses, Public Sector Undertakings etc., as available earlier under Circular No.79/2003-Cus. dated 4.9.2003 (since superceded).
I am directed to invite your attention to the above subject and to say that a doubt has been raised as to whether the All Industry Rate of duty drawback is to be denied / reduced on export goods using inputs some of which are non-duty paid. It has been represented that the All Industry Rate of duty drawback is sought to be denied / reduced on floor coverings and made ups on the ground that a part of yarn used has not suffered any duty.
Attention is invited to Para 3.2.6 A-IV of Handbook of Procedures Vol.I (2002-07 as amended up to 28th of January 2004), wherein the last date for filing of application for Duty Free Credit Entitlement Certificate for Status Holder for the period 2003-04 was mentioned as 31st December 2004. Vide Policy Circular No.12/2004-09 dt.28.12.2004 the last date for submission of such applications was further extended till 31st March 2005.
