DGFT Committee Minutes

Minutes of the Policy Relaxation Committee Meeting held under the Chairmanship of DGFT, ShriPravir Kumar, IAS on 20.01.2015

Meeting No.17/AM15 held on 20.01.2015 at 11.00 A.M.

List of officers present in the meeting is given below:

1. Shri D.K. Singh
   Addl. DGFT
2. Shri L.B. Singhal
   Addl. DGFT
3. Shri KC. Rout

Addl. DGFT
4. ShriJaikant Singh Addl. DGFT
5. Shri S.K. Samal
Jt. DGFT
6. Shri Jay Karan Singh Jt. DGFT
7. ShriAkashTaneja Jt. DGFT
8. Shri S.K. Mohapatra Dy. DGFT
9. Smt. N.R.Choudhury FTDO

Case No. 1 M/s Jonson Rubber Industries Ltd. New Delhi

F.No. 01/60/162/152/AM15/EFGC(PRC) PRC Meeting No. 17/AM15 dated 20.01.2015

Subject: - ( I ) Request for EOP extension against Authorization no. 0510235208

dated 28.01.2009 from 36 to 48 months.
(II) Accounting of 25 S/bills affected against Authorization no. 0510268436 dt. 20.07.2010 in theAdvance Authorization No. 0510235208 dated 28.01.2009 for regularization purpose.

Decision:

The Committee observed that applicant has fulfilled 55% export obligation against Advance Authorization No.0510235208 dated 28.01.2009 within its initial obligation period. However, balance exports have been affected against 25 shipments by mentioning another Advance Authorization No. 0510268436 dt. 20.07.2010. The Committee, therefore, decided as following:

I. Extension of Export Obligation period from36 months to 48 months be allowed against Advance Authorization No. 0510235208 dated 28.01.2009.
II. Accounting of 25 S/bills affected by mentioning Advance Authorization No. 0510268436 dt. 20.07.2010in the Authorization No. 0510235208 dt. 28.1.2009 shall be allowed subject to following conditions :

a. Shipments made upto 36 months from the date of issue of Advance Authorization No. 0510235208 dated 28.01.2009 shall be accounted for on payment of a composition fee @ 0.5% of FOB Value of S/bills. b. Shipments made after 36 months but within 48 months that is from 01.02.2012 upto 31.01.2013 shall be accepted on payment of a composition fee @ 0.5% per month of FOB Value of S/bills.

III. This is only for regularization and closure purpose
IV. It shall be ensured that minimum 15% Value Additionis achieved. V. RA shall ensure that 25 shipments which are accounted in the Authorization No. 0510235208 dated 28.01.2009have not been accounted for and / or shall not be accounted for under any other Authorization for redemption purpose.

(Action: RA, CLA New Delhi)

Due to paucity of time, the rest of the Agenda items were deferred.

The meeting ended with a vote of thanks to the Chair.

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