Currency paper (Water-mark Bank Note paper) - DGFT - 112

Public Notice No. 112 Dated 15th March 1993 Subject: Currency paper (Water-mark Bank Note paper) Attention is invited to the Export and Import Policy, published under the Ministry of Commerce Public Notice No. 1-ITC (PN)/92-97 dated the 31st March, 1992. The item Paper for security printing, currency paper, stamp paper and other special types of paper is included in the Negative List of imports contained in Chapter XV of the Policy with the stipulation that its import shall not be permitted except against a licence or in accordance with a Public Notice issued in this behalf. The conditions for import of Currency Paper (Water-mark Bank Note paper) are set out in the following paragraphs. 2. Import of Water-mark Bank Note Paper may be made, without a licence, by the Note Printing Presses of the Government of India, namely, Currency Note Press, Nasik and Bank Note Press, Dewas, Bharatiya Reserve Bank Note Mudran Pvt. Ltd., Mysore, Bharatiya Reserve Bank Note Mudran Pvt. Ltd., Salboni and Bharatiya Reserve Bank Note Mudran Pvt. Ltd., Bangalore. (As amended by Public Notice No. 355 (PN)/92-97 dated 27th March, 1996, Notification No. 40/97-02 dated 23.05.98) subject to Actual User condition on a specific letter of approval from the Ministry of Finance (Department of Economic Affairs), Government of India for the import. The letter of approval of the Ministry of Finance should be submitted to the Customs for clearance of the import. 3. The importer shall furnish quarterly returns of the quantity and value of the imports made by him to the Ministry of Finance for the quarters ending 30th June, 30th September, 31st December and 31st March of each financial year, within 30 days of the close of the quarter concerned. 4. Item covered under Exim Code heading 48.01 shall however be permitted without an import licence subject to Actual User condition to those who hold Registration Certificate issued by the Registrar of Newspapers for India (RNI), Ministry of Information and Broadcasting, New Delhi, on submission of necessary documentary evidence, duly authenticated by the RNI, to the satisfaction of the Customs authorities at the time of clearance of goods. A declaration about the total quantity and value of the newsprint imported and consumed during the final half of each licensing year shall be submitted to the Registrar of Newspaper for India by 31st October of each year. In addition, importer shall also be required to submit an annual audited statement reflecting the total quantity and value of the newsprint consumed and quantity of newsprint imported by them in the preceding (Licensing) year to the Registrar of newspapers for India, by 30th April of each year. The format of the declaration and the annual statement and other guidelines in this regard shall be as announced by the Ministry of information and Broadcasting from time to time.