Amendments under the Foreign Trade Policy in sync with RBI A.P.(DIR Series) Circular No.10 dated 11th July 2022

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..... 0 , as amended from time to time, the Central Government hereby makes the following amendments in the Foreign Trade Policy 2015-20 , with immediate effect, in sync with the RBI's A.P. (DIR Series) Circular No.10 dated 11 th July, 2022 : Sl. Existing Para Revised Para 1. 2.46 Import for export I. (b) Goods, including capital goods (both new and second hand), may be imported for export provided: iii. Export is against freely convertible currency. II. (a) Goods imported against payment in freely convertible currency would be permitted for export only against payment in freely convertible currency, unless otherwis .....

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..... d in Indian Rupees as per para 2.52 (d)(ii) arc permitted to avail exports benefits/fulfilment of Export Obligations under the Foreign Trade Policy (2015-20). 3. 3.20 Status Holder (b) All exporters of goods, services and technology having an import-export code (IEC) number shall be eligible for recognition as a status holder. Status recognition will depend on export performance. An applicant shall be categorized as status holder on achieving export performance during the current and previous three financial years (for Gems Jewellery Sector the performance during the current and previous two financial years shall be considered for recognition as status holder) as indicated in paragraph 3.2 .....

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..... n of export proceeds are given in paragraph 2.52, 2.53 and 2.54 of FTP. Effect of this Notification : Amendments under FTP are notified, to permit exports benefits / fulfilment of Export Obligations for Invoicing, payment and settlement of exports and imports in INR, as per RBI's A.P. (DIR Series) Circular No. 10 dated 11th July, 2022 . This shall come into force with immediate effect. This issues with the approval of Minister of Commerce Industry. (Santosh Kumar Sarangi) Director General of Foreign Trade Ex-officio Addl. Secretary to the Government of India E-mail: [email protected] [File No. 01/93/180/32/AM-19/PC.II(B)/E-17430] - Notification Tax Management India - taxmanagementindi .....

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