Notional Exchange Rate Certificate – Validity Extended to 7 Days
As per para 6.5.2 of the Handbook of Procedures (Vol I) of the FTP, “ EOUs shall be permitted to export jewellery on basis of a notional rate certificate issued by nominated agency. This rate will be based on prevailing Gold/US$ rate and US$/INR rate in notional rate certificate. Certificate issued by nominated agency should not be older than 3 working days of date of shipment.”
Now this certificate can be not older than 7 days.
DGFT Public Notice No. 92/(RE 2008) 2004-09 Dated: October 13, 2008