Passbook Scheme- clarification on granting and utilisation of credits

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..... passbook scheme (operated under Exim Policy 1992 - 1997) DGFT have issued a Policy Circular No. 23(RE -98) / 98-99 dated 17.7.1998 on this issue (copy enclosed). The instructions laid down under this Circular are hereby brought to the notice of all concerned for necessary action at their end. It is understood that in some Custom Houses credits have not been allowed in the Pass Book till dat .....

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..... -98 dated 1.4.1997 and Policy Circular No. 32/97-98 dated 31.12.97 issued on erstwhile Pass Book Scheme. 2. It has been clarified in these Policy Circulars that the credits earned under the Pass Book scheme may be utilised for imports within a period of one year from the date of grant of credit. 3. In partial modification of Circulars, it has now been decided that the credits ear .....

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