Customs Notification No.76/2007 dated 06.06.2007
Foreign Trade Policy changes notified

G.S.R. 417 (E). – In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby directs that each of the notifications of the Government of India in the Ministry of Finance (Department of Revenue), specified in column (2) of the Table hereto annexed shall be amended or further amended, as the case may be, in the manner specified in the corresponding entry in column (3) of the said Table, namely:-

TABLE

Sl No Notification No and Date Amendments
(1) (2) (3)
1. 55/2001-Customs, dated the 16th May, 2001, G.S.R. 360 (E), dated the 16th May, 2001 In the said notification, in condition (iv), after entry (i), the following entry shall be inserted, namely:-

“ (j) M/s International Diamond Laboratories DMCC, Dubai”
 
2. 41/1999-Customs, dated 28th April, 1999, G.S.R. 289 (E), dated 28th April, 1999 In the said notification,

(1) in paragraph (a), for the clause (ii) and entries relating thereto, the following shall be substituted, namely:-

“(ii) upto three per cent. of the Free On Board (FOB) value of preceding financial year of the export of rhodium-finish jewellery made of silver imported by the exporter of such rhodium-finish silver jewellery;

(iii) upto two per cent. of the Free On Board (FOB) value of preceding financial year of the export of jewellery made of silver imported by the exporter of such silver jewellery;”;

(2) in the paragraph after paragraph (b), for the portion beginning with the words “Replenishment Licence referred to in Para 4.80 of the Handbook of Procedures Volume-I, 1st September, 2004- 31st March, 2009, published by the Government of India in the Ministry of Commerce and Industry vide Public Notice No. 1/2004-09, dated the 31st August, 2004, as amended from time to time”, the following shall be substituted, namely: -

“Replenishment Authorisation referred to in Para 4A.28 of the Handbook of Procedures Volume-I, the 1st September, 2004- 31st March, 2009, published by the Government of India in the Ministry of Commerce and Industry vide Public Notice No. 1 (RE-2007)/2004-09, dated the 19th April, 2007, as amended from time to time,”;

(3) in proviso to paragraph (b), for the words “Replenishment Licence”, the words “Replenishment Authorisation” shall be substituted.

 
3. 52/2003-Customs dated the 31st March,2003, G.S.R. 274 (E), dated the 31st March, 2003 In the said notification,

(1) in the proviso to paragraph 4, after clause (b), the following proviso shall be inserted, namely:-

“Provided further that in a case of exit by a unit where positive NFE criteria is fulfilled in terms of Para 6.18 (g) of Foreign Trade Policy, such clearance or debonding of goods shall be allowed under Advance Authorization as one time option on payment of applicable duty.”;

(2) after paragraph 13, in the Explanation, after Sr.No. (xi) and entries relating thereto, the following serial number and entry shall be inserted, namely:-

“(xii) “NFE” means Net Foreign Exchange Earnings in terms of Para 6.5 of Foreign Trade Policy and Para 6.10.1 of Handbook of Procedure, volume 1 and shall be calculated in the manner explained in Annexure-I to Appendix 14-I-G of Handbook of Procedure, volume 1.”
 

(F.No: DGEP/FTP/69/2007-EOU & G&J)

(Anupam Prakash)
Under Secretary to the Government of India


Note:-

1. The principal notification No. 55/2001-Cus, dated the 16th May, 2001 was published in the Gazette of India Extraordinary, Part II, Section 3 (i) vide G.S.R. 360(E), dated the 16th May, 2001 and was last amended by notification No. 44/2006-Cus, dated the 17th May, 2006 published vide G.S.R. 291 (E), dated the 17th May, 2006.

2. The principal notification No. 41/1999-Customs, dated the 28th April, 1999 was published in the Gazette of India Extraordinary, Part II, Section 3 (i) vide G.S.R.289 (E), dated the 28th April, 1999 and was last amended by amended by notification No. 87/2004-Customs, dated the 6th September, 2004 published vide G.S.R. 566 (E), dated the 6th September, 2004.

3. The principal notification No. 52/2003-Customs, dated the 31st March, 2003 was published in the Gazette of India Extraordinary, Part II, Section 3 (i) vide G.S.R 274(E), dated the 31st March, 2003 and last amended by notification No. 5/2007-Cus, dated the 15th January, 2007 published vide G.S.R. 27 (E), dated the 15th January, 2007.

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