CIR. NO. 38/2002-RB, DT. 12/04/2002
- Document type
- Circular
- Reference no.
- B
- Dated
- Category
- A.P. (DIR Series) Circulars
Foreign Exchange Management Act, 1999 Export of goods and services-Reduction in value
Foreign Exchange Management Act, 1999 Export of goods and services-Reduction in value
2. The matter has now been reviewed and it has been decided to allow authorised dealers to consider requests for reduction upto 10% in invoice value of export bills also in respect of export of gold/silver jewellery or articles made out of cut and polished diamonds. All other terms and conditions of the paragraph C.12 remain unchanged.
3. Authorised Dealers may bring the contents of this circular to the notice of their constituents concerned.
4. The directions contained in the circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).
Yours faithfully,
Grace Koshie
Chief General Manager