PN No. 30/(RE-98)/1997-2002 Dated 21-08-1998

Public Notice No. 30(RE-98)/1997-2002 dt. 21/8/98

HB Vol.1 Amended - Para 7.38, Para7.25

In exercise of powers conferred under paragraph 4.11 of the Export and Import Policy, 1997-2002, as notified in the Gazette of India extraordinary, Part-II- Section 3 - Sub- section (ii) vide S.O No. 283(E) dated 31.3.97, the Director General of Foreign Trade hereby makes following amendment in the Handbook of Procedures (Vol.1) (RE-98), 1997-2002:

The following sub paragraph may be added under paragraph 7.38 of Handbook of Procedures (Vol.1) (RE-98) 1997-2002:

1. "However, the facility of transferability may be allowed against post export DEPB without insisting for realisation of export proceeds if the shipments are made against irrevocable letter of credit and the same is certified by the bank in column 14/15 of appendix 25 as given in Handbook of Procedures (Vol.1) (RE-98) 1997-2002."
   
   
2. The following shall be added after the first sentence in paragraph 7.25 (I): However, the realisation of export proceeds shall not be insisted if the shipments are made against irrecoverable letter of credit and the same is certified by the bank in column 14/15 of Appendix 25 as given in Handbook of Procedures (Vol.1) (RE-98) 1997-2002
   
   
3. The following amendment shall be made in paragraph 12.10(c) :
   
   The cars so imported shall not be sold or otherwise disposed off for a period of three years from the date of importation. Import of second hand cars shall not be permitted.
   
   
4. The following amendments shall be made in paragraph 8.31:
   The Gem REP licences are available as per the scale given in Appendix 30-B. Such licences shall have a validity of 18 months from the date of issue.
   
   
5. The following amendment shall be made in serial number 12 of Appendix 32-B.
   American Quality Assessors (India) Pvt. Ltd.,
   (Licenced Registrar under the office of AQA, USA )
   1-110-214,
   1st floor, Ashok Nagar,
   Hyderabad .
   Tel: 040 7635381
   Fax: 040 7612179
   
   
6. The following shall be added as Note No.4 in Appendix 25 :
   FOB value actually realised and date of realisation of export proceeds may not be given in cases where shipment has been made against irrevocable Letter of Credit. However, in such cases bank shall make an endorsement to this effect in column 14/15 of Appendix 25.

This issues in public interest.

Sd/-
(N.L.Lakhanpal)
Director General of Foreign Trade

(File No. PRU/AS/97098/monitoring)