PUBLIC NOTICE NO. 30/2007, DT. 26/07/2007

Execution of Bank Guarantee / Legal Undertaking for Advance Authorisation / DFIA and EPCG Authorisation

In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy 2004-2009, the Director General of Foreign Trade hereby makes the following amendments in Handbook of Procedures, Vol. I:

1. Last sentence of paragraph 1.1 stands amended as follows:

These compilations, as amended from time to time, shall remain in force until 31st March, 2009 except DEPB scheme which shall continue till 31st March, 2008.

2. Paragraph 2.20 related to ‘Execution of Bank Guarantee / Legal Undertaking for Advance Authorisation / DFIA and EPCG Authorisation” stands substituted as follows:

Before clearance of goods through Customs, Authorisation holder shall execute a BG / LUT with Customs Authorities. In such cases, RA shall endorse the following condition on the licence / Authorisation:

“BG / LUT as applicable to be executed with concerned Customs Authorities”.

In case of indigenous sourcing, Authorisation holder shall furnish BG / LUT to RA as per Customs Circular No. 58/2004 dated 31.10.04.

3. First sentence of paragraph 4.68 stands amended to read as under:

Provision of paragraph 4.25 shall apply.

This issues in Public interest.

Sd/-

(R.S. Gujral)
Director General of Foreign Trade
And Ex-Officio Additional Secretary to the Govt. of India

(Issued from F.No.01/94/ 180/ PN /AM08/PC-I).

Presented by eximkey.com