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DGFT Notification NO.22/2002-07 dated 09.1.2003 conditions for “import on export basis” and “export of imported goods”
In exercise of powers conferred by Section 5 of the Foreign Trade (Development of 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.
This issues in public interest
(L.Mansingh)
Director General of Foreign Trade
Ex officio Addl Secretary to the Government of India
F.No.01/94/180/20/AM03/PC-IV
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