Government of India
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhawan, New Delhi – 110 011
Policy Circular No. 45/2009-2014 (RE 2010)
Dated: 8th November, 2011
To
All Regional Authorities (RAs);
All Commissioners of Customs;
Exporting Community.
Subject: Clarification on applicability of exchange rate for the purpose of
calculation for composition fee – regarding.
Attention is invited to para 4.28 (ii) of HBP v.1 regarding regularization of
bona fide default by the authorization holders. In case of any shortfall in
value, authorization holder is required to deposit an amount equal to 1%
shortfall in FOB value in Indian Rupee. Clarification has been sought on the
exchange rate applicable for determination of shortfall in Export Obligation.
- Basis of calculation of exchange rate would be the date of issue of
authorization.
This issues with the approval of DGFT.
(C. Gangadharan)
Dy. Director General of Foreign Trade
Tel: 011-23061562 (Ext-250)
E-mail: c.gangadharan@nic.in
(Issued from F. No. 01/94/180/276/AM12/PC-4)