TRADE NOTICE NO.09/2022, DT. 23/05/2022

Reference is invited to Notification No.06/2015-2020 dated 13th May, 2022 amending the export policy of wheat under S.No.59 of Chapter 10 of Schedule — 2 of the ITC (HS) Export Policy from ‘Free’ to ‘Prohibited’ with immediate effect read with Trade Notice No.06/2022-2023 dated 14th May, 2022, Trade Notice No.07/2022-2023 dated 17th May, 2022 and Trade Notice No.08/2022-2023 dated 17th May, 2022.

2. In this regard, information has been received from sources that fraudulent back dated Letter of Credit (L/C) showing date of issuance, as on or prior to 13.5.2022, are being submitted by some unscrupulous exporters for issue of RCs, but as per the L/C, message exchange date between Foreign and the Indian bank / Swift message is after 13.05.2022.

3. The said matter has been considered and it is clarified that for registration of L/C with the RAs of DGFT, apart from the L/C date, the message exchange date between the Indian and foreign bank / Swift date should also be on or prior to 13.5.2022.

This issues with the approval of competent authority.
 

(S.K.Mohapatra)
Deputy Director General of Foreign Trade
E-mail: mohapatra.sk@nic.in

(Issued from F.No. 01/91/180/032/AM22/EC/Pt./E-31336)