In exercise of powers conferred under Paragraph 2.4 of the Export and Import Policy, 2002-2007 and Paragraph 1.1 of Handbook of procedures, (Vol.1) , 2002-2007, the Director General of Foreign Trade hereby makes the following amendments in the Public Notice No.38 (RE-99)/1997-2002 dated 5.11.1999 vide which transitional arrangements were notified allowing deemed export benefits to the power projects mentioned on the subject:

“In case of Talcher Super Thermal Power Project Stage–II (4X500MW), since the World Bank funding was not available, M/s NTPC shall have to return the cash equivalent of the following deemed export benefits availed by the suppliers for this project:

i) Benefits obtained under Para 10.3 (a) (Advance Intermediate Licence/ Special Imprest Licence) and Para 10.3 (b) (Deemed export drawback) of Exim Policy, 1997-2002 (Revised Edition: March, 1999) up to 31.3.2000.

ii) Benefits obtained under Para 10.3 ( c) (Refund of Terminal Excise duty) of Exim Policy, 1997-2002 ( Revised Edition: March, 2001)/Para 8.3 (c ) (Refund of Terminal Excise duty) of Exim Policy, 2002-2007 for the period from 1.4.2000 onwards.

 

2. This issues in public interest.

(L. Mansingh)
Director General of Foreign Trade