CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle, 4th Floor, 7 Cooperage Road, Mumbai - 400 001.India.
Tel : +91 22 22021288 / * Fax : +91 22 22026684
* E-mail : info@chemexcil.gov.in Web : https://chemexcil.gov.in
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EPC/LIC/DGFT/Amend
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27/04/2018
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ALL MEMBERS OF THE COUNCIL
DGFT
Amendment in Para 1.05(b) of Foreign Trade Policy 2015-2020
(Transitional Arrangements)
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Dear Members,
Kindly note that the O/o DGFT New Delhi has issued Notification No. 05/2015-2020 dated 25/04/2018 regarding amendments in the Para 1.05 (b) of the Foreign Trade policy (2015-20) on Transitional Arrangements.
For the convenience of the member-exporters, the contents are reproduced/ highlighted as follows:
1.05: Transitional Arrangements
Existing Para
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Revised Para
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(b) In case an export or import that is
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(b) Item wise Import/Export Policy is delineated in the ITC (HS)
Schedule I and Schedule II respectively. The importability/
exportability of a particular item is governed by the policy as on
the date of import/export. The date of import/ export is defined in para 2.17 of HBP, 2015-20. Bill of Lading and Shipping Bill are the key documents for deciding the date of import and export respectively.
In case of change of policy from free' to restricted/prohibited/state trading' or 'otherwise regulated', the import/export already made before the date of such regulation/restriction will not be affected.
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However, the import through High Sea sales will not be covered under this facility.
Further, the import/export on or after the date of such regulation/restriction will be allowed if importer/exporter has a commitment through Irrevocable Commercial Letter of Credit (ICLC) before the date of imposition of such restriction/ Regulation and shall be limited to the balance quantity, value and period available in the ICLC.
For operationalising such ICLC, the applicant shall have to register the ICLC with jurisdictional RA against computerized receipt within 15 days of imposition of any such restriction/regulation.
Whenever, Government brings out a policy change of a
particular item, the change will be applicable prospectively
(from the date of Notification) unless otherwise provided for.
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permitted freely under FTP is
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subsequently subjected to any
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restriction or regulation, such export
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or import will ordinarily be permitted,
notwithstanding such restriction or
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regulation, unless otherwise
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stipulated.
This is subject to the
condition that the shipment of export
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or import is made within the original
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validity period of an irrevocable
commercial letter of credit,
established before the date of
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imposition of such restriction and it
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shall be restricted to the balance
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value and quantity available and time
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period of such irrevocable letter of
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credit.
For operationalising such
irrevocable letter of credit, the
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applicant shall have to register the
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Letter of Credit with jurisdictional
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Regional Authority (RA) against
computerized receipt, within 15 days
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of the imposition of any such
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restriction or regulation.
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Members are requested to take note of this amendment. The said Notification is available for download/ reference using below link:
http://dgft.gov.in/Exim/2000/NOT/NOT18/05%20eng.pdf
Thanking You,
Yours faithfully,
(S.G. BHARADI)
Executive Director
CHEMEXCIL
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