Foreign Trade Policy – some more Customs notifications amended – No imported vehicles for hotels after the star scam
To give effect to the FTP, several Customs notifications are being amended. Licence is changed to authorisation and Licencing Authority is changed to Regional Authority. This apart certain other measures promised in the policy have been brought into Customs notifications.
1. 91/2004-Customs, dated, the 10th September, 2004. – Advance Licence for deemed exports: - Final goods to include, “supply and installation of goods and equipment (single responsibility of turnkey contracts) to projects financed by multilateral or bilateral agencies or funds as notified by the Government of India in the Ministry of Finance (Department of Economic Affairs) under international competitive bidding in accordance with the procedures of those agencies or funds, where the bids have been invited and evaluated on the basis of Delivered Duty Paid (DDP) prices for the goods manufactured abroad.”
2. 92/2004-Customs, dated, the 10th September, 2004 - Served from India Scheme – Exemption is to goods “related to its main line of business”, which will now be “related to its service sector business”; a new condition is added “ Exemption under this notification shall not be available to vehicles under said certificate even if such vehicle is freely importable under the Foreign Trade Policy”; The imported vehicles the last around had found their way into the garages of Bollywood stars.
3. 93/2004-Customs, dated, the 10th September – Advance Licence – “Advance Intermediate Licence holder shall discharge export obligation by supplying the resultant products to ultimate exporter” It is now only exporter and not ultimate exporter.
4. 94/2004- Customs, dated, the 10th September, 2004 - Advance licence for annual requirement with actual user condition issued to Star Export Houses – Condition No. 3 is changed to that where the import takes place after fulfillment of export obligation, the shipping bill number and date and quantity and free on board (FOB) value of the resultant product are endorsed on the said authorisation and the schedule is omitted.
5. 97/2004-Customs, dated, the 17th September, 2004 - Export Promotion Capital Goods Scheme (EPCG) – A new proviso is added for extension of export obligation - Provided further that the Regional Authority may grant further extension in the overall period of export obligation upto a period of further two years if the authorisation holder pays fifty per cent differential duty on the unfulfilled portion of the export obligation and agrees to fulfill other conditions as may be specified by the Regional Authority for this purpose”
6. 41/2005-Customs, dated, the 9th May, 2005 - Vishesh Krishi Upaj Yojana renamed as Vishesh Krishi and Gram Udyog Yojana (Special Agriculture and Village Industry Scheme -
Notification No. , Dated 5 May 2006