Currency Paper(Water-mark Bank Notes paper)
(1) The conditions for import of currency paper (water-mark bank note paper) are as follows:
(i) Import of Water-mark Bank Note Paper may be made, without a licence, by the Note Printing Presses of the Government of India, namely, Currency Note Press, Nasik; Bank Note Press, Dewas; Bharatiya Reserve Bank Note Mudran Ltd., Mysore; Bharatiya Reserve Bank Note Mudran Pvt. Ltd., Salboni and Bharatiya Reserve Bank Note Mudran Ltd., Bangalore subject to Actual User Condition on a specific letter of approval from the Ministry of Finance (Department of Economic Affairs), Government of India for the import. The letter of approval of the Ministry of Finance should be submitted to the Customs for clearance of the import.
(ii) The importer shall furnish quarterly returns of the quantity and value of the imports made by him to the Ministry of Finance for the quarters ending 30th June, 30th September, 31st December and 31st March of each financial year, within 30 days of the close of the quarter concerned.
(Public Notice No. 112-ITC(PN)/92-97 dated 15.03.93, 302(PN)/92-97 dated 28.07.95 nad 355 (PN)/ 91-97 dated 27.03.96 and Notification No. 40/97-02 dated 23.03.98)
(2) Item cover under Code heading 48.01 shall however be permitted without an import licence subject to Actual User condition to those who hold 'Registrations Certificate' issued by the Registrar of Newspaper for India (RNI), Ministry of Information and Broadcasting, New Delhi on submission of necessary documentry evidence, duly authenticated by the RNI, to the satisfaction of the Customs authorities at the time of clearance of goods. In addition, Importer shall also required to submit an annual audited statement reflecting the total quantity and
value of the newsprint consumed and quantity of newsprint imported by them in the preceding(Licencing) year to the Registrar of newspapers for India, by 30th April of each year. The format of the declaration and the annual statement and other guidelines in this regard shall be as announced by the Ministry of Information and Broadcasting from time to time.
(3) The conditions for import of Security Printing Paper are as follows:
(i) Import of Security Printing Paper may be made without a licence by India Security Press, Nasik and Security Paper Press, Hyderabad subject to actual user condition on specific letter of approval from the Ministry of Finance
(Department of Economic Affairs), Government of India for the import. The letter of approval of Ministry of Finance should be submitted to the Customs for clearance of the import.
(ii) The importer shall furnish quarterly returns of the quantity and value of the imports made by him to the Ministry of Finance for the quarters ending 30th June, 30th September, 31st December and 31st March of each financial year, within 30 days of the close of the quarter concerned.
(Ref. Note
NOTIFICATION NO. 49 /(RE-2008) / 2004-2009, DATED 23 OCTOBER, 2008 )