Public Notice No. 38 dated 5th November 1999 (As Amended by Public Notice No. 42
dated 10th October 2002)
In
exercise of the powers conferred under paragraph 4.11 of the Export and Import
Policy, 1997-2002, as notified in the Gazette of India Extraordinary, Part II,
Section 3, Sub-Section (ii) vide S.O. No. 283(E) dated 31.3.1997, the Director
General of Foreign Trade hereby makes the following amendments in Public Notice
No. 18(RE- 99)/ 1997-2002 dated 1st July, 1999 as amended by Public Notice No.
25(RE-99)/ 1997- 2002 dated 28th July, 1999:
(i)���� The
words "Talcher � II, Talcher � II Transmission Projects and Sasaram HVDC
East � North Interconnector project", appearing in the "Subject"
of the said Public Notice shall be substituted by "Talcher Super Thermal
Power Project Stage II (4x500 MW), Talcher � II Transmission Projects, Sasaram
HVDC East � North Interconnector Project and Rihand � Sasaram � Biharsharif
HVDC Link Back to Back Station project".
(ii)��� The
words "Talcher � II, Talcher � II Transmission Projects and Sasaram HVDC
East � North Interconnector project" appearing in the first line of the
second paragraph of the said Public Notice shall be substituted by
"Talcher Super Thermal Power Project Stage II (4x500 MW), Talcher � II
Transmission Projects, Sasaram HVDC East � North Interconnector Project and
Rihand � Sasaram � Biharsharif HVDC Link Back to Back Station Project".
(iii)�� Paragraph three of the said Public Notice shall be substituted to
read as "In case the bids are invited under the World Bank Procedures and
the World Bank loan fails to come through, for any reason, the deemed export
benefits would be available as if the supplies have been effected under
Paragraph 10.2(d) of the EXIM Policy. However, in these cases the Power Grid
Corporation would return the cash equivalent of the deemed export benefits
availed by the suppliers for the above stated projects except for Talcher Super
Thermal Power Project Stage � II (4x500 MW). In case of Talcher Super Thermal
Power Project Stage � II (4 x 500 MW), in the eventuality of World Bank funding
not being available, since the suppliers would in any case be eligible for
deemed export benefits as given in Paragraph 10.3 (c) and (d), under provisions
of Paragraph 10.2 (g) of the EXIM Policy, subject however, to compliance of
conditions laid down in Paragraph 10.11 of Handbook of Procedures, NTPC would
have to return the cash equivalent of the additional deemed exports benefits
availed by the suppliers for this project, as given in Paragraph 10.3(a) and
(b) of EXIM Policy, 1997-2002."
(iv)��� In case of Talcher Super Thermal Power
Project Stage - II (4 x 500MW), since the World Bank funding was not available,
M/s NTPC shall have to return the cash equivalent of the following deemed
export benefits availed by the suppliers for this project:
i)����� Benefits
obtained under Para 10.3 (a) (Advance Intermediate Licence/ Special Imprest
Licence) and Para 10.3 (b) (Deemed export drawback) of Exim Policy, 1997-2002
(Revised Edition: March, 1999) up to 31.3.2000.
ii)���� Benefits obtained under Para 10.3 (c)
(Refund of Terminal Excise duty) of Exim Policy, 1997-2002 (Revised Edition: March
2001)/Para 8.3 (c) (Refund of Terminal Excise duty) of Exim Policy, 2002-2007
for the period from 1.4.2000 onwards.
2.������� This issues in public interest.