Export of Cotton Yarn - Expeditious issue of export licences

By Vijay Kumar

SERIAL No. 3(ii) of Policy Circular No. 20(RE-2010)/2009-14 dated 14.02.2011 had stipulated certain documents to be submitted to concerned RAs for issuance of export licence. To facilitate expeditious issue of export licences, Sl. No. 3(ii) of Policy Circular No. 20(RE-2010)/2009-14 dated 14.02.2011 is amended.

As per Circular No. 20 dated 14.02.2011, the documents prescribed were:

b) Proof of export of such yarn during the previous two years i.e. FY, 2008-09 and FY, 2009-10

c) certificate from the concerned Export Promotion Council certifying that the yarn is Value Added Special Yarn/Technical Yarn. Export against the licences so issued must be completed by 31.03.2011.

Now they are amended as:

(b) Proof of export of such yarn during the previous two years i.e. FY, 2008-09 and FY, 2009-10 duly accompanied by copies of shipping bills showing export of such yarn

(c) The custom authorities will draw necessary sample(s) at the time of shipment to be tested and thereafter shall send the test report to concerned RA to facilitate initiation of appropriate penal action under the provisions of FT( D&R ) Act in case any deviation/ misdeclaration is detected/reported. Export against the licences so issued must be completed by 31.03.2011.

DGFT Policy Circular No. 24 (RE-2010)/2009-14., Dated: February 22, 2011