Government of India updates DEPB credit rates for various exports. Effective from June 18, 1998, with changes for shipments between 1997-1998.
In case of export of gold/silver/platinum jewellery and articles thereof, the application shall be made to the licensing authority concerned as given in Appendix 27 and the quantity, wastage and value addition norms shall be as given in Chapter 8 of the Policy and Chapter 8 of the Handbook of Procedures.
The description of the export product at S.No.91 under the product group Engineering, in the annexure to Public Notice No. 6(RE-98) 1997-2002 dated 15.4.98 may be corrected to read as Cold Rolled Galvanised Colour Coated Sheets/Strips/Wide coils of Colour Coated steel sheets/ CRGP/GC sheets/strips/wide coils.
In respect of cases where Gold/Silver/Platinum has been booked with the nominated agencies but exports have not been effected within prescribed time limit, but have been completed subsequently, in respect of bonafide exporters, such cases may be regularised on payment of penalty equivalent to interest @24% on duty involved in such booking of the metal, for delayed period of exports.
Attention is invited to Ministry of Commerce (Import Trade Control) Public Notice No.74-ITC(PN)/85-88 dated the 21st February, 1986 on the subject mentioned above. It is hereby informed that in pursuance of the relevant provisions contained in the Indo-USSR deferred payments protocol dated the 30th April, 1981 and 23rd December, 1985.
This notification is issued for continuance of deemed export benefits for supplies made to Thermal Power Project of MPEB in the wake of withdrawal of World Bank Loan for this project subject to the terms and conditions mentioned in the foregoing Paragraph and in Appendix XVIII of the Hand-Book of Procedures (March, 1994 edition).
Public Notice No. 10 (RE-98)/1997-2002 outlines new DEPB credit rates for exports from April 1, 1997, and corrections to prior notices effective from April 15, 1998.
Read the latest amendments to the Handbook of Procedures (Vol. I) under the Export and Import Policy 1997-2002 by the Ministry of Commerce, effective from April 30, 1998.
In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992), the Central Government hereby makes the under mentioned items freely importable into India if imported from SAARC countries namely Bangladesh, Bhutan, Nepal, Maldives, Sri Lanka or Pakistan subject to the condition that the listed items/goods are in new/ prime condition and are of origin of the countries stated above in accordance with the Customs Tariff (Determination of Origin of goods under the Agreement on SAARC Preferential Trading Arrangement)
As this is only a one time relaxation which is being allowed, all documentary and other formalities shall be completed by the concerned Regional Licensing Authorities of the DGFT as also by the Customs Authorities on top priority basis so that the cases covered by this Public Notice can be closed within the time prescribed and there is no occasion for the exporters to complain about any delay and seek further time for closure of these cases.
