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Conditions for �Import on Export Basis� and �Export of Imported
Goods�
Notification
No. 22 dated 9th January 2003
In
exercise of powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and
Import Policy, 2002-07, the Central Government hereby amends/ corrects the
Export and Import Policy, 2002-07 as under:
1)
Para 2.21 pertaining to � Import on Export basis � is amended as
under:
New or second hand capital
goods, equipments, components, parts and accessories, containers meant for
packing of goods for exports, jigs, fixtures, dies and moulds may be imported
for export without a licence/ certificate/ permission on execution of Legal
Undertaking/ Bank Guarantee with the Customs Authorities provided that the item
is freely exportable without any conditionality/ requirement of licence/
permission as may be required under ITC (HS) Schedule II.
2)
Para 2.36 pertaining to the �export of imported goods� is amended as
under:
Goods, including those mentioned
as restricted item for import (except prohibited items) may be imported under
Customs Bond for export in freely convertible currency without licence/
certificate/ permission provided that the item is freely exportable without any
conditionality/ requirement of licence/ permission as may be required under ITC
(HS) Schedule II.
This
issues in public interest.
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