N 22/2003

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GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY

NOTIFICATION No.22 / 2002-07 NEW DELHI: the 9th January, 2003

In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 1.1 of the Export and Import Policy, 2002-07, the Central Government hereby amends/corrects the Export and Import Policy, 2002-07 as under:

1.  Para 2.21 pertaining to “ Import on Export basis “ is amended as under:
   

New or second hand capital goods, equipments, components, parts and accessories, containers meant for packing of goods for exports, jigs, fixtures, dies and moulds may be imported for export without a licence/certificate/permission on execution of Legal Undertaking/ Bank Guarantee with the Customs Authorities provided that the item is freely exportable without any conditionality/ requirement of licence/ permission as may be required under ITC (HS) Schedule II.

2.  Para 2.36 pertaining to the “export of imported goods” is amended as under:
   

Goods, including those mentioned as restricted item for import ( except prohibited items) may be imported under Customs Bond for export in freely convertible currency without a licence/certificate/ permission provided that the item is freely exportable without any conditionality/ requirement of licence/ permission as may be required under ITC (HS) Schedule II.

cy without a licence/certificate/ permission provided that the item is freely exportable without any conditionality/ requirement of licence/ permission as may be required under ITC (HS) Schedule II.

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This issues in public interest.

(L.Mansingh) Director General of Foreign Trade Ex officio Addl Secretary to the Government of India

(A.B.Menon) Dy. Director General of Foreign Trade (F.No: 01/94/180/20/AM03/PC-IV)