Amendments in the Exim Policy - 07/2003 - Foreign Trade Policy

Amendments in the Exim Policy NTF NO. 07/2003, DT. 22/04/2003 S.O. (E)- In exercise of powers conferred under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Paragraph 1.1 of the Export and Import Policy, 2002-2007, as amended from time to time, the Central Government hereby makes the following amendments in Exim Policy, 2002-07 (as amended upto 31.3.2003) 1. In sub paragraph 3 of paragraph 3.8, the second sentence shall be corrected to read as under: "Hotels (having approval as three star or above categories by the Department of Tourism, Government of India) and other service providers in tourism sector registered with Deptt. of Tourism, Government of India shall be entitled for duty free imports equivalent to 5% of the average foreign exchange earned by them in the preceding three years subject to a minimum average foreign exchange earning of Rs.10 lakhs in the preceding three years". 1. In paragraph 6.9, the first paragraph may be corrected to read as under: "Following supplies effected from EOU/EHTP/STP units to DTA will be counted for the purpose of fulfilment of positive NFE" 2. In paragraph 5.1, the second sub paragraph may be corrected to read as under: "However, in respect of EPCG licences with a duty saved value of Rs.100 crore or more, the same export obligation shall be required to be fulfilled over a period of 12 years" 3. The word and expression 'average' appearing in paragraph 3.7.2 shall be deleted. 4. Paragraph 7.9 (a) (iv) may be corrected to read as under:- "Notwithstanding the above, SEZ units/SEZ developer shall, on production of a suitable disclaimer from the DTA supplier, be eligible for obtaining the entitlements specified above" This issues in public interest. (L. MANSINGH) Director General of Foreign Trade and Ex-Officio Additional Secretary to the Government of India