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Amendments to Notification No. 45 dated 26th June 2001
Central
Excise Notification No. 20 dated 14th May 2002 (NT)
In
exercise of the powers conferred by sub-rule (3) of rule 19 read with rule 33 of
the Central Excise Rules, 2002, the Central Board of Excise & Customs hereby
makes further amendment in the notification of the Government of India, in the
Ministry of Finance, Department of Revenue, No. 45/2001-Central Excise (N.T.),
dated the 26th June, 2001, namely: -
In
the said notification under heading �1. Conditions and safeguards,� in
clause (1) relating to export under bond to Nepal or Bhutan where payment is in
freely convertible currency, -
(i)
for clause (i), the following clause shall be substituted, namely:-
�i.
the importer of the goods in Nepal or Bhutan, as the case may be, shall make
full payment for said goods to the exporter thereof by furnishing foreign Inward
Remittance Certificate for such payment from any bank authorized to deal with
foreign exchange by Reserve Bank of India or shall open an irrevocable letter of
credit in favour of such exporter in India, before the export of such goods
takes place�.
(ii)
In clause (iv), for the words �the exporter shall furnish�, the
following words shall be substituted, namely: -
�Where the export is against an
irrevocable letter of credit, the exporter shall furnish.�
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