Chapter9
MISCELLANEOUS MATTERS
06 September 2004
If there is any change in the name/address or constitution of IEC holder/licensee/Actual User eligible for import without a licence/recognised status holders, the concerned IEC holder/licensee/Actual User/ status holders, as the case may be, shall cease to be eligible to import or export against the licence/IEC No. or any other facility permitted under the Policy and Handbook, after expiry of 90 days from the date of such change in his name or address or constitution, unless in the meantime,
| (a) | The IEC holder/licensee/status holders has got the consequential changes effected in the IEC Number/licence or the recognition certificate, as the case may be, by the concerned licensing authority; |
| (b) | The Actual User has got the consequential changes effected from the concerned authority in the Industrial Licence issued by the Secretariat for Industrial Assistance (Ministry of Commerce and Industry) or Certificate of Registration as an Actual User issued by Director of Industries of the State Government or has received an acknowledgement for filing of a memorandum with the Secretariat for Industrial Assistance. Provided, however, the licensing authority issuing the IE Code may, condone the delay on payment of a penalty of Rs. 1000/-. |
However, the change in the director of a public limited company shall not be considered change in the constitution of the company for the purposes of payment of the aforesaid penalty.
The constitution for the purposes of amendment of an IEC and payment of the aforesaid penalty would mean the change in partners in a partnership firm, trustees of a trust, members of the board of a society and directors of a private limited company.
| Denomination of Import Licence/ Certificate/ Permissions | 9.2 | Import Licence/Certificate /Permissions issued under the Policy shall indicate the value both in Rupees and in freely convertible currency(s) at the exchange rate(s) prevailing on the date of issue of the Licence/ Certificate/Permission. In the case of Licence/ Certificate/Permissions where export obligation is imposed, the value of the export obligation shall be indicated both in freely convertible currency(s) and in Rupees equivalent at the exchange rate(s) prevailing on the date of issue of the Licence/Certificate/ Permission. Such exchange rate(s) shall also be indicated on the import Licence/Certificate/ Permission. |
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| 9.2.1 | The remittance of foreign exchange and discharge of export obligation against the Licence/Certificate/ Permission shall, however, be regulated in freely convertible currency. No enhancement in Rupee value shall be necessary if the remittance of foreign exchange is covered by the value of Licence/Certificate/ Permission shown in freely convertible currency. |
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| 9.2.2 | However, on the Advance Licence(s), issued for exports to ACU countries, export obligation shall be denominated and discharged in ACU dollars. |
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| 9.2.3 | The export obligation against Advance Licence for intermediate supply and Advance Licence for deemed export, where supplies are to be made within the country, shall be denominated in Indian rupees and the export obligation shall be discharged in Indian rupees with reference to the CIF value of imports in Indian rupees irrespective of CIF value indicated on the licence. |
| Applications Received After Expiry of Prescribed Date of Receipt | 9.3 | Wherever any application is received after the expiry of the last date for submission of such application but within six months from the last date, such application may be considered after imposing a late cut @ 10% on the entitlement. |
| Supplementary Claims | 9.4 | Wherever any application for supplementary claim is received, within the specified time limits, such application may also be considered after imposing a cut @10% on the entitlement. |
| Furnishing of Information | 9.5 | Every importer/ exporter shall furnish such information as may be called for by the Director General of Foreign Trade or any officer duly authorised by him. |
| Clarifications On Policy/Procedures | 9.6 | A request seeking clarifications on any provision of the Policy or Handbook of procedures, importability or exportability of items under ITC(HS), may be made to the Director General of Foreign Trade in the form given in Appendix-19. The clarification may also be sought on E.mail. |
| Consumption Register | 9.7 | The importer shall maintain a register of items imported under a licence and its consumption. The importer shall also maintain such a register of items imported without a licence and its consumption provided such items are imported subject to actual user condition. The register shall be maintained in the form given in Appendix-18 except in respect of the scheme wherein period for retention of the consumption register is specifically mentioned, in all other cases, the register shall be maintained upto 3 years period from the date of import. |
| Export Facilitation | 9.8 | In order to resolve exporters' problems in a co-ordinated manner, the field offices of the Directorate General of Foreign Trade shall act as Export Facilitation Centres.
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