Some of the Important Announcements made by the DGFT, Government of India during July, 2003

Public Notice No.17 dated 16th July, 2003 has amended Para 4.21 of Handbook of Procedures and as per the amendment Advance Licences issued under Para 4.7 (based on self declaration where SION are not fixed) will be enhanced upto 100% of their origional value only.
Public Notice No.18 dated 24th July 2003 has prescribed the maximum fee of Rs.5 lakhs in respect of application for Export Promotion Capital Goods (EPCG) Scheme. In respect of applications filed electronically for EPCG Licence, the maximum fee, however, would be Rs.2.50 lacs only.
1. Subsequent to Lifting of UN Sanction on Iraq Export/Import to/from Iraq has been made free except for arms and related material.
2. Public Notice No.19 dated 31st July, 2003 has extended the facility of Duty Free Import of goods upto 1% of FOB value of exports made during the preceding licensing year to manufacturer in agro chemicals sector units having export turnover of Rs.20 crore or above during the preceding licensing year and having a Registered Research and Development Wing.
3. The fresh DEPB issued against re-export of goods imported under DEPB scheme shall be valid for a period equivalent to the balance period available on the date of import of such defective/unfit goods, as per the Public Notice No.19. This will provide automatic revalidation beyond the original validity period.
The said Public Notice No.19 also allows revalidation of DEPB relating to S.No 69 and 72 of Product Group – Textiles (Product Code 89) for a period of six months from the date of endorsement by the licensing authority, against submission of a request and TR/Demand Draft for Rs 200, irrespective of the date of issuance of such DEPB. However no revalidation shall be granted in cases where misrepresentation/ fraud has come to the notice of the licensing authority or adjudicating orders have already been passed.
Notification No. 16 dated 17th July, 2003 has prohibited the export of specified kind of Juvenile Lobster.
Policy Circular No. 10 dated 3rd July, 2003 has restored import of Natural Rubber against Advance Licence. Earlier, Government’s decision not to allow duty free import of Natural Rubber against Advance Licence was quashed and set aside by the Hon’ble High Court of Bombay.
Policy Circular No.11 dated 10th July, 2003 allows EPCG Licence in the case of exporters Registered as Merchant Exporter but having provisional registration as a Manufacturer. This has been allowed with 100% Bank Guarantee condition.
Policy Circular No.12 dated 11th July, 2003 notifies the guidelines for the fixation of ad-hoc DEPB rates.