9911796707
TMI BlogSpecial VBAL Scheme for RMG - CBEC InstructionsX X X X Extracts X X X X X X X X Extracts X X X X ..... 7) /92-97 dated 27th August, 1992. To give effect to this scheme Notification No. 104/ 93-Customs dated 16th March, 1993 was issued. In this connection attention is invited to Circular NO. 6/93 dated 30th April, 1993 issued from F.No. 605/98/93-DBK. In the revised edition of Handbook of procedure, Vol. I published on 30th March, 1995 the Special Value Based Advance Licensing, Scheme for garment sector has undergone significant changes. Accordingly, Notification No. 104/93-Customs has been amended vide Notification No. 105/95*-Custom dated 2nd June, 1995 to restrict its applicability for import against licences issued on or before 30th April, 1995 under the scheme. New Scheme 'A' for Garment Sector 2. The scheme as contained in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n made under Duty Exemption Scheme for execution of bond with the Customs authorities. Accordingly, the Licencing authority whereas a bond with suitable surety or security is required to be executed with the Customs authorities. The quantum of Bank Guarantee to be taken with the bond has been prescribed vide Ministry's Circular No. 52/95 dated 25.5.95 issued from F.No. 605/72/95- DBK. A notification No. 106/95-Customs dated 2.6.95 has been issued to give effect to this Scheme. New Scheme 'B' for Garment Sector 3. A new Scheme 'B' which has been introduced, provides for issuance of Value Based Advance Licence upto 150% of the FOB value of appellant's exports for ready-made garments in the preceding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Credit opened by the Indian exporter is Rs. 50/-, he can import trimmings and / or embelishments and/or sample yardage for a value not exceeding 3% of the value of his Litter of Credit, i.e. for 3% or Rs. 50/-, that is, Rs. 1.50 only. The value limit of Rs. 1.50 can be utilised for import of trimmings or embelishments or sample yardage or any combination ot these three items. Accordingly, the value of import of fabrics (other than sample yardage) for purpose of fabricating the garments for export would be to the extent of 97% of the value of the Letter of Credit opened by him, i.e. Rs. 48.50 in this case. In case the Indian exporter does not want to import trimmings, embelishments or sample yardage at all, or imports the same to the exten ..... X X X X Extracts X X X X X X X X Extracts X X X X
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