TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
PART-II, SECTION-3, SUB SECTION (ii)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
NEW DELHI: the 9th January, 2003
In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government hereby amends/corrects the Export and Import Policy, 2002-07 as under:
1) Para 2.21 pertaining to “ Import on Export basis “ is amended as under:
New or second hand capital goods, equipments, components, parts and accessories, containers meant for packing of goods for exports, jigs, fixtures, dies and moulds may be imported for export without a licence/certificate/permission on execution of Legal Undertaking/ Bank Guarantee with the Customs Authorities provided that the item is freely exportable without any conditionality/ requirement of licence/ permission as may be required under ITC (HS) Schedule II.
2) Para 2.36 pertaining to the “export of imported goods” is amended as under:
Goods, including those mentioned as restricted item for import ( except prohibited items) may be imported under Customs Bond for export in freely convertible currency without a licence/certificate/ permission provided that the item is freely exportable without any conditionality/ requirement of licence/ permission as may be required under ITC (HS) Schedule II.
This issues in public interest.
Director General of Foreign Trade
Dy. Director General of Foreign Trade