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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Circular Highlights Export Manipulation Issues Under Exim Policy 1997-2002; Stresses Genuine Value Addition Needed for Rupee Payments.</h1> The circular addresses the export of goods with value addition under Paragraph 11.7 of the Exim Policy 1997-2002, which allows exports against Rupee payments with a minimum value addition of 33%. It highlights issues where importers manipulate export documents to falsely increase the FOB value without actual value addition, particularly in trades involving Russia. The circular emphasizes that value addition must involve tangible processing or manufacturing to increase intrinsic value, not just paper adjustments. It warns that such practices could undermine the Rupee Debt Payment Scheme intended to boost Indian exports to Russia.
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