06/AM07 - Directorate General of Foreign Trade

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4downloaded from : www.dgft.gov.inundertaking regarding the time frame for exports to become NFE positivebefore this DTA sale commences.Case No. 6.PRC Meeting No. No.06/AM07Date. 12.09.2006Firm’s Name M/s. UNIFile No. 01/92/180/65/AM07/PC-IISubject: Extension in period of DTA sale permission forperiod of years 2000-01, 2001-02 & 2002-03.The Committee considered the case as per details given in the Agenda. TheCommittee agreeing with the recommendation of the Board of Approvalsdecided to extend the validity period of DTA sale entitlement for the period2000-01 to 2002-03 upto 30.9.2007.Case No. 7.PRC Meeting No. No.06/AM07Date. 12.09.2006Firm’s Name M/s. Letra Graphix Pvt. Ltd., Ahmedabad.File No. 01/87/50/188/AM04/DES-VIII.Subject: Revalidation of 13 Advance licences.The Committee considered the case as per details given in the Agenda. Itwas observed that the error had occurred in ALC in recording the minutesand subsequently these minutes were amended as late as 25.6.2006 thus notpermitting the licence holder to utilize these 13 licences. It was thereforedecided to revalidate these licences by a period of six months and withinthis extended validity period of six months they will be permitted to importonly in proportion to the EO already fulfilled. This period of six months willcommence from the date endorsement to this effect is made on theselicences.
5downloaded from : www.dgft.gov.inCase No. 8.PRC Meeting No. No.06/AM07Date. 12.09.2006Firm’s Name M/s. BPL Ltd., BangaloreFile No. 01/81/162/299/AM06/DES-IISubject: Relaxation of policy procedures for realization offorex by GR waiver against realization of forextowards EO discharge against advance licence No.070002824 dated 5.10.1999.The Committee considered the case as per details given in the Agenda. TheCommittee deliberated upon the direction of GRC which stated as under:-“The Committee gave a patient hearing to the petitioner and notedthat the shortfalls in realization of export proceeds were writtenoff by Reserve Bank of India. The Committee, therefore,directed DGFT to accept the export proceeds for the purpose ofdischarge of full export obligation and redeeming the licence.”The Committee took note of these directions by the GRC which in itsobservations has relied upon the waiver given by the RBI. However on goingthrough the communication received from RBI in respect of this waiver, it isseen that RBI has made a specific stipulation while waiving the outstandingGR that “exporter should surrender to the trade authoritiesproportionately, incentives if any in full in respect of these GR forms”.To that extent the duty exemption benefits availed cannot be regularized.It was therefore decided that the case be submitted to GRC with a requestto reconsider the decision in view of specific stipulation of RBI whileallowing waiver.
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06/AM07 - Directorate General of Foreign Trade

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