6A.1
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Trade and Exchange Control
(i) The offices of the Director General of Foreign Trade regulate the physical export of commodities. They may prohibit under the Exim Policy, the export of certain commodities, stipulate that the export of certain other commodities would be subject to licence, prescribe minimum export prices or methods by which payments for exports of some commodities will have to be received. Export of certain commodities might be subject to restrictions placed in other statutes also. Nothing in the Exchange Control regulations outlined in this Manual shall relieve the exporter from complying with those laws and/or conditions imposed under those laws.
(ii) In exercise of the powers conferred by section 18(1) of Foreign Exchange Regulation Act, 1973, Government of India have issued Notifications No. F1/67/EC/73-1 and No. F1/67/EC/73-2 both dated 1st January 1974, prohibiting the export of any goods directly or indirectly to any place outside India, other than Nepal and Bhutan, unless a declaration in the prescribed form is furnished to the prescribed authority. The various forms of declarations have been prescribed in the Second Schedule to the Foreign Exchange Regulation Rules, 1974. These Rules also lay down regulations relating to the prescribed period for realisation of export proceeds and the manner of payment of export value of goods.