Revision of Foreign trade Policy (FTP) announced on 07.04.2006- Amendment of notification relating to EOU and Gems & Jewellery sector and Procedural changes made effected-reg
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Duty-free procurement and export procedures for EOUs expanded to allow spares, promotional materials, transfers and simplified clearances. Amendments expand duty free supplies of spares/components during warranty to the original buyer, permit duty free import/procurement of export promotion materials within a capped proportion of prior year exports, allow clearance of leftover textile material to DTA up to a capped percentage of prior year consignment value or quantity, extend removal of capital goods for repair/test to all units on prior intimation, authorise inter unit transfers under in bond or re warehousing procedures without duty, require bank guarantees for contract farming removals, provide Fast Track import clearance via pre authenticated procurement certificates subject to conditions, simplify Shipping Bill serialisation and submission, decentralise warehousing station declarations, and adjust Gems & Jewellery rules for precious metal timelines and outward treatment/re import of cut and polished stones.
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Provisions expressly mentioned in the judgment/order text.
Duty-free procurement and export procedures for EOUs expanded to allow spares, promotional materials, transfers and simplified clearances.
Amendments expand duty free supplies of spares/components during warranty to the original buyer, permit duty free import/procurement of export promotion materials within a capped proportion of prior year exports, allow clearance of leftover textile material to DTA up to a capped percentage of prior year consignment value or quantity, extend removal of capital goods for repair/test to all units on prior intimation, authorise inter unit transfers under in bond or re warehousing procedures without duty, require bank guarantees for contract farming removals, provide Fast Track import clearance via pre authenticated procurement certificates subject to conditions, simplify Shipping Bill serialisation and submission, decentralise warehousing station declarations, and adjust Gems & Jewellery rules for precious metal timelines and outward treatment/re import of cut and polished stones.
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