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Transitional Arrangement - Amendments/ Corrections
Notification
No. 3 dated 11th April 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 1.3 of Export and
Import Policy. 1997-2002, the Central Government hereby makes following
amendments in the Export and Import Policy 1997 -2002:
1.
The following shall be added as paragraph 6.13:
6.13
Transitional Arrangement
EPCG Licences issued on or before 31.3.97 with concessional rate of duty
of 15% shall be valid for import at concessional rate of 10% duty provided the
goods imported against such licences are cleared from the Customs on or after
issue on this notification. Likewise EPCG licences issued on or before 31.3.97
for a c.i.f. value of Rs. 5 Crores or more with concessional rate of duty of 15%
for agriculture and allied sectors specified in para 6.2 of the EXIM Policy,
1997 -2002 shall be valid for import at Zero duty provided the goods imported
against such licences are cleared from the Customs on or after issue or this
notification.
2. In paragraph 9.5, the sentence
'notwithstanding the above electronic hardware units shall be allowed to be set
up without stipulation of a positive net foreign exchange earning as a
percentage of exports' may be corrected to read as follows:
'Notwithstanding the above, electronic hardware units shall be allowed to
be set up without stipulation of a minimum net foreign exchange earning as a
percentage of exports'
3. In paras 9.15 (b), (c), 9.23, 9.25, 9.26,
9.27. 9.28, the following shall be added at the end of the paragraph/
sub-paragraph:
'The provision of this paragraph is also applicable to EHTP/ STP Units'.
4.
In para 9.15(e), the expression 'at least 25% higher or more than' may be
corrected to.
5. In para 9.17, the sentence 'Request in this
regard -processed by customs authority' may be replaced by the sentence
'Requests in this regard will be permitted by the Development Commissioner
concerned and will be finally processed by Customs Authority on the basis of
factors such as fixation of input output norms and' Further the word 'product'
appearing in last but one line of para 9.17 shall be corrected to read as
'production'.
6. In paragraph 9.21 the sentence 'The provision
of paragraphs 9.9. 9.10, 9.11, 9.16, 9.17 and 9.18 of this Chapter shall not
apply in such cases. The purpose for which such warehouses may be set up for the
following purposes: ' shall be deleted and substituted by the following:
'The provision of paragraphs 9.9, 9.10, 9.11,9.12, 9.13, 9.16, 9.17 and
9.18 of this Chapter shall not apply in such cases.'
7. In paragraph 9.22, the sentence 'The
provision of paragraphs 9.5, 9.9, 9.10,9.11, 9.13, and 9.17 of this Chapter
shall not, however, apply to such activities' shall be deleted and substituted
by the following,
The provision of paragraphs 9.5,9.9, 9.10,9.11,9.12,9.13,9.16 and 9.17 of
this Chapter shall not, however apply to such activities'
8. In paragraph 9.29, the letter, and expression
'NFEP = (A-B)/ B where shall be substituted by the following:
'NEEP = (A-B)/ A x 100 where'
9.
Appendix 30 mentioned in para 13.1 may be corrected to read as Appendix
31.
10.
The expression 'and tyres' appearing in para 15.2 (I) S.No. (13) may be
deleted
This issues in public interest
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