Quantity restriction of 55 lakh bales on export of cotton - Exemption for export of 5000 bales of Assam Comilla; cotton
GOVERNMENT has amended DGFT Notification No. 12(RE-2010)/2009-14 dated 16.12.2010, whereby the ‘Nature of Restriction' is amended as, “The contracts for export of cotton shall be registered with the Directorate General of Foreign Trade prior to shipment. During the Cotton Season, 2010-11( upto 30.09.2011) the export of cotton will be subject to a cap of 55 lakh bales or as notified by DGFT from time to time. Clearance of cotton consignments by Customs should be after verifying that the contracts have been registered.”
However, export of 5,000 bales of Assam Comillas Cotton (Tariff Code 5201 00 12) is exempted from the ceiling of 55 lakh bales imposed on export of cotton during the Cotton Season, 2010-11( upto 30.09.2011). Such export will also be required to be registered with DGFT.
The export of cotton is free subject to registration of export contracts with DGFT. The cap on export during the Cotton Season, 2010-11 (01.10.2010 to 30.09.2011) will be 55 lakh bales or as notified by DGFT from time to time. But, export of 5,000 bales of Assam Comillas Cotton (Tariff Code 5201 00 12) is exempted from the cap, but not from registration.
DGFT Notification No. 32(RE-2010)/2009-14 Dated: March 14, 2011