FTP - Pre-shipment Inspection Agencies - Eligibility Criteria Modified
DGFT has amended Para 2.32.2 A of the HBP, Vol.I to stipulate that:
1. Application for recognition in respect of Pre-shipment Inspection Agencies (PSIAs) has to be made in proforma prescribed in Appendix 5-A.
2. For applicants based in India application fee will be Rs. 7500/- and for applicants based abroad the application fee will be USD 200. The fees may be amended from time to time by DGFT.
3. The application s will be considered by an Inter - Ministerial Committee.
4. The PSIAs will be issued a recognition certificate valid for three years. However, DGFT has the right to suspend/cancel such a certificate at any time during the 3 year term. At the end of 3 years PSIA has to make a fresh application for further recognition.
The recognition of existing agencies currently listed will continue to be valid for six months from the date of this Notification.
Responsibility and Liability:
1. In case of any mis-declaration in Pre-Shipment Inspection Certificate PSIC, PSIA would be liable to pay a penalty upto Rs. 10 Lakhs (if the agency is based in India ) or up to USD 20,000/- (if the agency is based in foreign country), in addition to suspension/cancellation of recognition.
2. The importer would also be responsible for import of any material in contravention of the declaration as required under Para 2.32.2 of HBP Vol.I and would be liable to pay penalty upto Rs. 10 Lakhs .
DGFT Public Notice No. 104/2009-2014 (RE2010), Dated: March 23, 2012