|
Ref: PXL/H.O./CIR-129/2015-16 Date: 12.02.2016
Hyderabad
To
All members,
Sub: Good news - DGFT Trade Notice no. 16/2016 dated 10.02.2016
We have pleasure in informing all our members that there was a long pending issue with regard to closure of Advance Authorizations against which exports/clearances made from DTA to SEZ for want of receipt of payment in convertible Foreign Currency from the SEZ customer's EFC Account. This issue had created problems for the exporters from the SEZs not only from the Local DGFT Offices (RLAs) by way of rejection of their applications for closure of Advance Authorizations but also from the Customs for closure of their Bonds executed with them.
The issue was examined by the Office of Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, Government of India, New Delhi.
We are pleased to inform our members that all pending cases prior to 1st April 2015 will be sorted out with the issue of Trade Notice No. 16/2015 dated 10th February 2016 permitting closure of advance authorizations even in case of payments received in Rupees for the exports effected up to 31.03.2015 and all the RLA's to consider the pending applications accordingly.
However, members may please note that the new Foreign Trade Policy (FTP 2015-20), Para 4.21(iii) states that "Export to SEZ units shall be taken into account for discharge of export obligation provided payment is realized from Foreign Currency Account of the SEZ Unit." Hence, conditions of para 4.21(iii) of FTP will have to be complied in respect of the Advance Authorizations issued during FTP 2015-2020.
A copy of the Trade Notice No. 16/2016 dated 10th February 2016 issued by the Office of Directorate General of Foreign Trade (DGFT)is enclosed herewithfor the ready reference of our members.
All members are requested to note the guidelines issued by O/o DGFT for sorting out their pending issues.
Thanking you
Yours Sincerely
Dr. P V Appaji
Director General
Encl:
Notice |
