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CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)
Jhansi Castle 4th Fl., 7 Cooperage Road, Mumbai - 400 001.India.
Tel : +91 22 22021288 / * Fax : +91 22 22026684 *
E-mail : info@chemexcil.v.in Web : https://chemexcil.in
EPC/LIC/DGFT 15/03/2018
ALL MEMBERS OF THE COUNCIL
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DGFT
Amendment in Chapter 2 of the Handbook of Procedure (2015-20)
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Dear Members,
The O/o Director General of Foreign Trade, New Delhi has issued Public Notice no. 65/2015-2020 dated 13/03/2018 regarding amendment in Chapter 2 of the Handbook of Procedure (2015-20).
As an effect of this Public Notice, Para 2.86 of the Handbook of Procedure (2015-20) is deleted.
Kindly note that Para 2.86 of HBP deals with admissibility of duty credit scrip / discharge of EO applications in cases where payments are backed by Irrevocable Letter of Credit. The Para 2.86 reads as follows:
“2.86 Irrevocable Letter of Credit
In case where applicant applies for duty credit scrip / discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is unconditionally Avalised / Co-Accepted / Guaranteed by a bank) and this is confirmed and certified by exporter’s bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized. For Status Holders, irrevocable letter of credit would suffice”
Members are requested to take note of this amendment regarding deletion of Para 2.86 from HBP. The Public Notice no 65/2015-2020 dated 13/03/2018 is available for download using below link-
http://dgft.gov.in/Exim/2000/PN/PN17/PN%2065%20eng.pdf
Thanking you,
Yours faithfully,
S.G Bharadi
Executive Director
CHEMEXCIL
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