EPCG -Export obligation norms & Exim Policy -Heading of Chapter 4 corrected - 05 (RE-99) 1997-2002 - Foreign Trade Policy

EPCG -Export obligation norms Exim Policy -Heading of Chapter 4 corrected TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-II, SECTION-3, SUB SECTION (ii) GOVERNMENT OF INDIA MINISTRY OF COMMERCE NOTIFICATION NO.5 (RE-99) 1997-2002 NEW DELHI : 19 th April, 1999 In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.3 of the Export and Import Policy, 1997-2002 (incorporating amendment made upto 31.3.99), the Central Government hereby makes following amendments in the Export and Import Policy, 1997-2002: (incorporating amendment made upto 31.3.99). 1. The main heading of chapter 4 shall be corrected to read as "GENERAL PROVISIONS REGARDING EXPORTS AND IMPORTS'. 2. The words and expression 'HS Classification of Exports and Import items' appearing after the words and expression ' ITC(HS) Classifications of Export and Imports items' in paragraph 4.1 and 4.10 shall stand deleted. 3.The table given under paragraph 6.2 shall be corrected to read as under: Customs Duty Export Obligation Period FOB Basis NFE Basis 10% 4 times CIF value of capital goods Not applicable 5 years Zero duty (in case CIF value is Rs.20 cr. or more) 6 times CIF value of capital goods 5 times CIF value of capital goods 8 years a) Zero duty in case CIF value is Rs.1 Cr. or more for electronics, food processing, textiles, plastic leather, sports goods, gem Jewellery sectors and produce and products of agriculture, aquaculture, animal Husbandry, floriculture, horticulture, pisciculture, viticulture, poultry, Sericulture. Bio-technology sector, the following sub-sectors of Engineering sectors; Machine tools, parts accessories thereof; automotive components and accessories; bicycle parts and accessories; handtools, cutting and small tools; castings and forgings (ferrous and non-ferrous) all sorts; pumps, electric motors and parts thereof, fasteners, all types (ferrous and non-ferrous); bright bars and shafting; scientific and surgical instruments and the following sub sectors of chemicals; Drug and drug intermediates, Dyes and Dyes intermediate, inorganic chemicals, organic chemicals (b) Zero duty in case CIF value is Rs.10 lakhs or more for Software sector 6 times CIF value of Capital goods 6 times CIF value of capital goods 5 times CIF value of Capital goods 5 times CIF value of capital goods 6 years 6 years 4. The word 'average' appearing in second sub paragraph 7.4A shall stand deleted. This issues in public interest. (N.L.Lakhanpal) Director General of Foreign Trade and ex-officio Additional secretary to the Government of India (Ajay Sahai) Jt. Director General of Foreign Trade