|
HB Vol.1 amended - Deemed Export
Public Notice No. 60 dated 24th December 1998
In exercise of 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 31.3.97, the Director General of Foreign Trade hereby makes following amendment in the Handbook of Procedures (Vol.1) (RE-98), 1997-2002:
1. The following may be added at the end of paragraph 10.12:
In respect of supplies made by sub contractor to the main contract under paragraph 10.2 (d) (e) (f) and (g), the main contractor may make payment to the sub contractor and issue payment certificate in the form given in Appendix 14B as form 1-C. In such cases, main contractor shall be eligible for deemed exports benefits only to the extent of goods manufactured and supplied by him as indicated in the main contract and the project authority certificate given in Appendix 14-A. Similarly, the deemed exports benefits to the sub contractor would be available to the extent of goods that are manufactured and supplied by him for the value as indicated in Appendix 14-A of Handbook.
While entertaining the claim of sub contractor, the sub contractor would be required to submit a copy of payment certificate issued by project authority to the main contractor for the entire supplies as well as payment certified from the main contractor indicating receipt of payment from main contractor to the extent supplies effected by sub contractor through banking channel, in addition to other prescribed documents.
2. The third sentence of paragraph 2 of Appendix 14A shall be amended to read as under:
"It is further certified that the payment in respect of the goods to be supplied by the sub contractor will be made directly by us/ main contractor in Indian rupees".
3. The form 1-C enclosed with the Public Notice shall be incorporated in Appendix 14B as form 1-C.
4. Paragraph 4 of form 1-A of Appendix 14B shall be amended to read as follows:
"Supply of goods to such projects in the power sector made under the procedure of International Competitive Bidding or Oil and Gas sector, including refineries, made under International Competitive Bidding or Limited Global Tender, in respect of which the Ministry of Finance extends the benefit of deemed exports to domestic supplies".
5. This issues in public interest.
|