Notification 59/2013-Cus dt. June 6, 2013 Export proceeds realized in rupees - enabling provision THE Central Government has amended paragraph 2.35(b) of the FTP, 2009-2014. Inasmuch as the existing sentence in Para 2.35(b) of Foreign Trade Policy, 2009-2014 will be followed by: "…………except to countries as notified by DGFT from time to time. Export of such goods will be permitted against payment in Indian rupees to the notified countries subject to at least 15% value addition." The effect of this Public Notice is that an enabling provision has been made to allow export of goods imported against payment in freely convertible currency where export proceeds will be realized in rupees. This dispensation will be applicable to such countries as would be notified by DGFT from time to time. They also have to achieve 15% value addition
Posted on: Sat, 08 Jun 2013 10:02:20 +0000
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