| Date: |
05-12-1997
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| Notification No: |
DGFT Notification No 25/1997
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| Issuing Authority: |
DGFT
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| Type: |
Notification
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| File No: |
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| Subject: |
Amendment in Para 15.2 (Sl.No.12) of Exim Policy and Sub Exim Code 27100001.03 in ITC (HS) Classification
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Amendment in Para 15.2 (Sl.No.12) of Exim Policy and Sub Exim Code
27100001.03 in ITC (HS) Classification
Notification
No. 25 dated 5th December 1997
In
exercise of the powers conferred by section 5 of the Foreign Trade (Development
and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 4.1 of Export and
Import Policy, 1997-2002, the Central Government hereby makes the following
amendments in the Export and Import Policy, 1997-2002 and ITC (HS)
Classifications of Export and Import items 1997-2002, published on 31st March,
1997 and as amended from time to time.
1. In Export and Import policy in Chapter 15,
Part II, Paragraph 15.2, section I, Miscellaneous items, Entry at Sl. No. 12
shall be substituted by the following:
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"12. Naphtha
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(i)
Import permitted without a licence subject to the condition that the
importer shall sell the return stream of naphtha to crude oil refineries
only. The sale will be on commercial terms as may be settled between the
importer and the refinery. However, the importer may use the return stream
as an industrial feed stock for his own captive consumption, but the
balance left, if any, shall be sold to crude oil refineries only.
(ii)
Import of naphtha is also permitted as fuel for power sector by actual
users in accordance with a Public Notice issued in this behalf."
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2. The policy indicated against Sub-Exim Code
27100001.30 under Exim Code 27.10 in the ITC (HS) Classifications of Export and
Import items, 1997-2002 shall be amended to read as under:
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EXIM
Code
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Item
Description
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Policy
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Condition
relating to the policy
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Import
under SIL/ Public Notice
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27100001.30
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Naphtha
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Restricted
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i)
Import permitted without a licence subject to the condition that the
importer should sell the return stream of naphtha to crude oil refineries
only. The sale will be on commercial terms as may be settled between the
importer and the refinery. However, the importer may use the return stream
as an industrial feed stock for his own captive consumption, but the
balance left, if any, shall be Sold to crude oil refineries only.
(ii)
Import of naphtha is also permitted as fuel for power sector by actual
users in accordance with a Public Notice issued in this behalf."
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3.
This issues in public interest.
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