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Application by Branch Office of Registered Exporters for Deemed Export
Benefits
Policy
Circular No. 6 dated 27th June 2002
1)
Application by branch office of Registered exporters for Deemed exports benefits
2)
Endorsement by RLA�s for automatic extension of Status upto 31.03.2004 for
Golden Certificate and other status holders
3)
Retrospective effect to certain changes in the Exim Policy 2002-07
1)
The issue of application
by the branch offices of registered exporters for deemed export benefits was
deliberated upon in this office. Keeping in view the facility for branch offices
of exporters to apply for Advance Licence under para 4.2 and 4.3 of the Handbook
of Procedures (Vol 1), it was decided to extend the facility of application by
branch offices of exporters even for deemed export scheme. The requirements of
para 4.2 and 4.3 of the Handbook of Procedures (Vol. 1) shall apply for
applications for deemed export benefits as well.
2)
The
procedural implementation of the provision of the transitional arrangement for
the status certificates expiring on 31.03.2002 as given in para 3.7.4 of the
Exim Policy was deliberated upon in this office. The said para (as amended by
Notification No 3 dated 01.05.2002) automatically permits the extension of such
status certificates (along with the erstwhile golden status certificate) upto
31.03.2004. Some firms had represented that they were facing difficulty in the
absence of specific endorsement to this effect on the status certificate. It has
therefore been decided that the office, which has initially issued such a
certificate, would make an endorsement on such status certificates (including
golden status certificates) expiring on 31.03.2002 granting this 2-year deemed
extension, if a status holder specifically makes such a request.
3)
The issue of
retrospective applicability of some of the new provisions in the Exim Policy
2002-07 to the licences issued prior to 01.04.2002 under the various export
promotion schemes was discussed in the light of a number of representations
received in this office. It was decided that since the intention of these
changes were to remove procedural bottlenecks and grant flexibility for export
promotion, the following changes could be granted even for past cases.
a.
The direct negotiation of documents has been permitted to status holders
without specific approval from the Reserve Bank of India (RBI) from 01.04.2002.
The direct negotiation of documents as per the specific permission
granted by RBI for exports prior to 01.04.2002 would also be permitted provided
the exporter has got specific permission of RBI and submits a FIRC (Foreign
Inward Remittance Certificate) in lieu of BRC (Bank Realisation Certificate)
during redemption.
b.
In the case of licences issued before 01.04.2002 under the provisions of
previous Exim Policies, a decision has been taken to permit conversion of one
shipping bill under one scheme to another shipping bill as per conditionalities
under para 2.56 of Handbook of Procedures (Vol 1) 2002-07.
c.
The facility of Advance Licence for Intermediate Supplies would be
granted against invalidation of Advance licences for physical exports issued
before 01.04.2002 even in case where the intermediate supplier has supplied or
intends to supply the material subsequent to the fulfilment of the export
obligation by the ultimate exporter holding the Advance Licence as per the
provisions of para 4.13 of the Handbook of Procedures (Vol 1).
This
issues with approval of Director General of Foreign Trade.
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