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 Website : www.//chemexcil.in
EPC/LIC/HS CODE 13/05/2019
ALL THE MEMBERS OF THE COUNCIL
Low Usage of Self-Ratification scheme under para 4.07A of the Foreign TradePolicy
We would like to inform you that the O/o Directorate General of Foreign Trade, New Delhi has issued Trade Notice No. 10/2019-20 dated 09/05/2019 regarding Low Usage of Self-Ratification scheme under para 4.07 A of the Foreign Trade Policy.
As you might be aware, Government had notified a Self-Ratification scheme for Advance Authorization (under para 4.07 A of the FTP 2015-20) for Authorized Economic Operators (AEOs) in the interest of ease of doing business. The scheme allows Advance Authorizations to be taken on self declaration and self ratification basis for cases where Standard Input Output Norms (SION) is not notified, without the need of going through the process of norms fixation/ratification by the concerned Norms Committee (NCs). Trade and Industry is being encouraged to avail this scheme by becoming AEOs as outlined by CBIC vide its circular no. 33/2016 dt. 22.07.2016, as amended, and by circular no. 26/2018 dt. 10.08.2018.
However, it is observed that in-spite of more than 3500 AEO already registered with CBIC, there are comparatively very few AEOs, who are using this scheme to get their advance authorizations.
In view of above, AEOs who are users of duty exemption scheme, are urged to make full use of Self Ratification Scheme in order to reduce transaction time and costs.
In case you are facing any issues with the same, please feel free to let us have your feed-back on e-mail id’s- firstname.lastname@example.org & email@example.com .
Your replies will be appreciated and enable us take up your issues, if any, regarding above scheme to the designated authority.
(S. G. Bharadi)