Further, in terms of the circular dated April 22, 2014, it was advised that utilisation of export advances, received on the strength of guarantees issued by Indian banks, for repayment of loans availed of from Indian banks (except in cases where banks have received
We have been receiving representations from banks that, in the case of projects which have been stalled primarily due to inadequacies of the current promoters, a change in ownership/management may be required to revive the project. However, the new promoters/developers may require additional time to revive/complete the stalled projects.
Approval of the competent authority is conveyed for posting of the following officials for posting in Directorate of Systems for setting up of “Project Insight”/CPC-Compliance Management (CPC-CM) under provisions of CPC-Staffing Scheme by diversion of posts with
Notification No.01/2015-2020 Dated April 1, 2015 Central Government hereby notifies the Foreign Trade Policy, 2015-2020. This Foreign Trade Policy shall come into force w.e.f. 01.04.2015.
With a view to further liberalising the procedure and as the Working Group structure has been dismantled, it has been decided to withdraw the limit of USD 20 million for Buyer’s credit which may be extended to foreign buyers in connection with export of goods on deferred payment terms and turn key projects from India.
The default rule is that any two documents, out of those listed in paragraphs of the Master Circulars mentioned above, should be provided as activity proof by a proprietary concern. However, in cases where the banks are satisfied that it is not possible to furnish two such documents, they would have the discretion to accept only one of those documents as activity proof.
The entire amount due to the bank (irrespective of the quantum of security held against such assets), or for which the bank is liable (including in case of deposit accounts), is to be provided for over a period not exceeding four quarters commencing with the quarter in which the fraud has been detected;
Provided further that the said scrip has not been issued in violation of the condition contained in the sub-paragraph (5) of paragraph 2 of notification No. 101 of 2009 – Customs, dated the 11th September, 2009 or sub-paragraph (4) of paragraph 2 of notification No. 102 of 2009 – Customs, dated the 11th September, 2009 or the second proviso to sub-paragraph (1) of paragraph 2 of notification No. 05 of 2013 – Customs, dated the 18th February, 2013 or sub- paragraph (3) of paragraph 2 of notification No. 22 of 2013 – Customs, dated the 18th April, 2013 or first proviso to sub-paragraph
The Central Government vide Notification No. 18/ 2015 – Central Excise dated April 1, 2015 has exempted the goods specified in the First Schedule and the Second Schedule to the Excise Tariff Act, when cleared against a Post Export EPCG duty credit scrip issued by the Regional Authority in accordance with Paragraph 5.12 of the Foreign Trade Policy 2015-2020, which provides for duty remission in proportion to export obligation fulfilled from:
The Central Government vide Notification No. 23/2015 – Customs dated April 1, 2015 (Notification 23/ 2015) has amended Notification No. 104/2009-Customs dated September 14, 2009, wherein the Government has exempted the Capital goods and Components and spares and parts, for Capital goods imported earlier
