Some of the Important Announcements of the Government during Feb, 2004

Public Notice No. 46(RE03)/2002-2007 dated 4th February, 2004, makes addition/correction/amendment in the book - “Schedule of DEPB Rates” in respect of some items under Product Groups “Engineering”(61), “Chemicals”(62), “Plastic”(63) and “Electronics”(83).
Public Notice No. 47 dated 9th Feb, 2004, notifies Revised DEPB Rates effective from 9th February, 2004.
Trading Units in SEZ have been permitted to sell/transfer goods imported/procured from DTA to another SEZ/EOU/EHTP/STP unit as per P.N. No. 48 dated 16th February, 2004.
Exports made to the Special Economic Zones notified by the Department of Commerce will be entitled to DEPB as per Public Notice No.51 dated 17th February 2004.
Service Providers have been given option for submission of certificate from an independent Chartered Accountant confirming installation of capital goods under EPCG scheme as per Public Notice No.53 dated 27th February 2004.
Public Notice No.53 also announces the procedures for furnishing Bank Guarantee/LUT to the Licensing Authorities in case of indigenous sourcing under Advance Licence & EPCG Licence. Procedure for furnishing Corporate Guarantee has also been given in the said Notification.
Public Notice No.54 dated 28th February, 2004 suspends some DEPB Sl. Nos. in respect of product group Engineering (61) effective from 27th March, 2004 in the DEPB schedule.
Notification No.34 dated 9th February 2004 exempts import of new vehicles having an FOB value of US dollars 40,000 or more under the EPCG Scheme from the condition of compliance certificate issued by the testing agencies. Only a Type Approval Certificate/COP of an international accredited agency from the country of origin will be required.
Policy Circular No.26 dated 9th February 2004 notifies the list of International accredited agencies for issuance of Type Approval Certificate/COP for import of vehicles under EPCG scheme.