N 49/2007 (RE-07)

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GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE

NOTIFICATION No. 49 (RE-2007)/2004-2009 DATED 14th November, 2007

S.O.(E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with paragraph 1.3 of the Foreign Trade Policy (FTP), 2004-2009, as amended, the Central Government hereby makes the following amendments in FTP, 2004-2009 (Updated as on 19.4.2007):

1.   2nd sub-paragraph of paragraph 4.4.6 stands replaced by the following:
   

Once transferability is endorsed, imports / domestic procurement against authorisation or transfer of imported inputs / domestically procured inputs shall be subject to payment of applicable additional customs duty / excise duty. While endorsing transferability, authorisation would bear a note as to liability of such additional customs duty / excise duty. However, in case where CENVAT facility has not been availed, exemption from additional customs duty / excise duty would be available even after endorsement of transferability on DFIA.

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Sd/- (R.S. Gujral) Director General of Foreign Trade and Ex Officio Additional Secretary to the Government of India

(Issued from File. No. 01/94/180/ DFIA /AM08/PC-I)