| Date: |
12-02-2002
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| Notification No: |
DGFT Policy Circular No 24/2002
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| Issuing Authority: |
DGFT
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| Type: |
Circular
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| File No: |
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| Subject: |
Applicability of Policy Circular No. 23 dated 22.10.1997 to all VABALs issued from 01.04.1992 onwards
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Applicability of Policy Circular No. 23 dated 22.10.1997 to all VABALs
issued from 01.04.1992 onwards
Circular No. 24 dated 12th February 2002
Kind attention is invited to Policy Circular No. 23/
97-98 dated 22.10.1997, which was issued on the subject relating to procedure
for dealing with cases of suspected misdeclaration of value in applications for
Licences issued between 1.4.1993 and 6.3.1995.
2. References have been
received from port offices to clarify whether Policy Circular No. 23 dated
22.10.97 is applicable to VABALs issued prior to 1.4.1993. The issue was
discussed by Policy Review Committee (PRC) in its meeting held on 24.12.2001
under the chairmanship of DGFT. It is clarified that the intention of the said
Policy Circular No.23 dated 22.10.97 being to cover all VABALs issued from
01.04.1992 onwards, the said Circular is applicable to all VABALs issued from
1.4.1992 onwards.
This issues with the approval of
DGFT.
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