Import exemption for designated agencies: authorised import of specified gold and silver without licence or SIL surrender.
Designated agencies authorised by the Ministry of Finance, including the Reserve Bank of India, may import specified unwrought, powder and semi manufactured forms of gold and silver for sale in the domestic market without licence or without surrender of SIL under the listed ITC(HS) entries; policy for direct imports by other importers remains unchanged.

Reimbursement of Central Sales Tax: procedure requires CST registration, C Forms, and audited documentation for quarterly claims.
Reimbursement mechanism for Central Sales Tax (CST) on DTA supplies to EOUs, EPZs, FTZs, EHTP and STP units requires CST registration, maintenance of a material receipt register, submission of original invoices, C Forms and proof of payment, and a Chartered Accountant's certificate reconciling invoices and bank payments. Claims are submitted quarterly to the Development Commissioner or designated officer, subject to pre-audit, a six-month filing limit from quarter-end, and reimbursement limited to CST amounts supported by C Forms.

Special Currency Basket rupee value change alters repayment calculation for deferred USSR-era rupee credits under bilateral protocols.
The Reserve Bank revised the Indian Rupee value of the Special Currency Basket to Rs. 44.0282 effective 15.9.1997; this revised rupee value is the operative conversion basis for repayment of rupee denominated commercial credits granted by organisations of the former USSR under the deferred payment protocols dated 30.4.1981 and 23.12.1985.

Terminology substitution clarifies that 'video films' means film on video tape or compact video disc, affecting import policy.
The notification substitutes the term video films with film on video tape or compact video disc in existing public notice provisions under the Export and Import Policy, 1997-2002, using delegated authority to amend terminology and thereby clarifying the items covered by import controls for cinematograph and video-format media.

Misdeclaration of import/export values: licensing authorities to scale down CIF entitlements and refer cases for enforcement.
Administrative procedure directs Customs to determine prima facie over valuation by comparing declared international prices with prevailing prices at application date and to refer suspect cases to a Screening Committee. The Committee will decide whether licences require scaling down of CIF entitlements, penal proceedings, or no action. Licensing authorities must implement approved reductions and limit scaling down to unutilised CIF balances where imports were partly or not made before the cut off; transferable licences require corrective steps or penal action if transferees refuse.

Standard input-output norms amended: additions and corrections update product-specific import requirements and add new entries to the handbook.
Amendment to the Handbook of Procedures Vol. 2 revises the Standard Input-Output Norms by prescribing corrections, substitutions and additions to product-specific input requirements and inserting new SION entries across Chemicals and Allied Products, Engineering Products, Sports Goods, Textile Products and Miscellaneous Products. Annexure A lists targeted amendments to existing entries (revised input lists, quantities, deletions and renumbering), while Annexures B-F set out the new operative SION entries with detailed import-item descriptions, alternative inputs and quantitative norms to be incorporated into the handbook.

Special Incentive Licence entitlement increased for exports to specified countries, extending additional export incentives under policy.
Paragraph 12.7(e) of the Handbook of Procedures (Vol. I) under the Export and Import Policy is amended to grant an enhanced additional Special Incentive Licence entitlement for exports to the countries specified in the Handbook appendix, replacing the prior additional entitlement and thereby altering the incentive available to eligible exporters.

Export ceiling on brown seaweeds requires pre shipment inspection and regional licence allocation, licences issued first come, first served.
An export ceiling for processed brown seaweeds and agarophytes (excluding G edulis of the Tamil Nadu coast) is imposed for the licensing year, conditioned on production of a pre shipment inspection certificate from MPEDA regional/sub regional offices; regional licensing offices are allocated the ceiling, licences are issued on a first come, first served basis, and port offices must report exhaustion and submit quarterly shipment details to the Ministry and Director General of Foreign Trade.

Commodity classification clarifies honed marble is treated with polished marble and its import is restricted.
Honed marble is to be classified the same as marble blocks, slabs and tiles under EXIM Code No.68022101 within EXIM heading 68.02 of the ITC (HS) 1997-2002; it is not a separate tariff category and its import is restricted. This clarification applies to consignments imported before Notification No. 7/97:02 dated 24 June 1997 and is issued by the Directorate General of Foreign Trade.

Deemed export benefit extended to fertilizer plant supplies under international competitive bidding, subject to no price preference.
Deemed export benefits are made available for capital goods and spares supplied to fertilizer plants set up, expanded, revamped, retrofitted or modernised during the Ninth Plan if procured through international competitive bidding and provided that price preference is not available to the supplier; corresponding amendments to Appendix 14A, Appendix 14B (forms I A/I B) and deletion of S.No. 3(c)(iii) of Appendix 20C documents are prescribed to record the procurement and the price preference restriction.

Hand-Book of Procedures amendment: deletion of exemption provision following amendment to Export and Import Policy.
Amendment to the Hand-Book of Procedures (Vol.1) deletes paragraph 7.31, removing an exemption from procedures, pursuant to powers under paragraph 4.11 of the Export and Import Policy, 1997-2002, consequent to amendments in paragraph 4.14 of that Policy; the Director General of Foreign Trade issues the Public Notice stating the change is in the public interest.

Standard Input-Output Norms amended, updating SION entries and corrections across chemicals, electronics, engineering, plastics and miscellaneous products.
The Public Notice amends the Standard Input Output Norms in the Handbook of Procedure, Vol.2 by prescribing substitutions, deletions and insertions of SION entries and correcting input quantities. Additions and corrections are set out in Annexures A-G, which add detailed product specific entries for chemicals, electronics, engineering, plastics, sports goods and miscellaneous products, specifying permitted import inputs, precise quantities and conditional notes governing eligibility.

Prior UN sanctions approval required for exports to Iraq; otherwise imports and exports valid to any country except Fiji.
The amendment to Chapter 4 of the Handbook of Procedures states imports and exports are valid to/from any country except Fiji and Iraq, but expressly permits export to Iraq where there is prior approval of the concerned Sanctions Committee of the United Nations Security Council, making that approval a precondition to export to Iraq.

Export quota allocation for peacock tail feathers set with competitive licensing, priority for higher unit value and reserved cooperative share.
Export of peacock tail feathers and related handicrafts for 1997-98 is allowed under a national ceiling distributed among regional licensing offices; licences are issued after sealed applications stating quantity and unit FOB price, backed by full FOB payment instruments. Allocation prioritises highest unit value realisation subject to a per application quantity cap and a minimum FOB threshold relative to the prior year, with a reserved portion for cooperative societies of weaker sections. Licences expire at the licensing year end; unshipped allocations must be surrendered or risk debarment. Crest feathers and other parts are excluded and detailed shipment reporting to licensing authorities and DGFT is required.

Bank guarantee requirement for D/A exports of handmade woollen floor coverings imposed, with limited transitional relief and RBI approved exemptions.
Exports of specified handmade woollen floor coverings on documents against acceptance (D/A) require a Bank Guarantee; a limited transitional grace period from the notice date preserves prior D/A commitments, and exporters with subsidiaries, trading companies or office-cum-warehouses opened with prior RBI approval are exempt from the Bank Guarantee requirement subject to compliance with RBI payment rules.

Extension of export obligation period barred where misrepresentation or enforcement action exists, tightening revalidation eligibility for advance licences.
Public Notice amends eligibility for revalidation and extension of export obligation periods for Advance Licences on or before 28.2.1995 by substituting the phrase "on or before 28.2.1995," disallowing any revalidation/extension where misrepresentation or fraud is detected or enforcement action has been initiated, and deleting the words "who had issued the licences" from the earlier notice.

DEPB rate fixation procedure requires exporters to file a prescribed data sheet and supporting documents to obtain credit rates.
Exporters applying for DEPB credit rates must file Appendix 11-H data sheet with exporter and export/import particulars, details of prior passbook credits, and supporting shipping bills, bills of entry or passbook entries plus international price evidence; submit specified numbers of data sheet copies and supporting documents to the DGFT and to the relevant Export Promotion Council/Commodity Board; and comply with the declaration and undertaking. DEPB rates are fixed only where Standard Input Output Norms are notified; applicants lacking SIONs must first seek fixation of SIONs.

Revalidation and extension of advance licences allowed with conditions; penalty applies for irregular or unfulfilled export obligations, subject to regional approval.
Transitional arrangements permit revalidation and last extensions of advance licences issued prior to 28 February 1995 where exports are completed fully or to specified thresholds, subject to documentary compliance and payment of a penalty on the unfulfilled or irregular export value; licences with no exports/imports, licences endorsed as transferable, or licences affected by misrepresentation or fraud are ineligible, and Regional Licensing Authorities that issued the licences shall grant allowed revalidation/extensions upon submission of regional licences, DEECs and prescribed documents.

Revalidation and extension of advance licences allowed as a one-time dispensation; authorities must process eligible cases promptly.
A one-time transitional dispensation permits revalidation for imports and/or extension of the export obligation period for advance licences issued under the Duty Exemption Scheme more than thirty months before the referenced Public Notice under EXIM Policy 1992-97. Licensees must submit required documents to the Regional Licensing Authorities immediately; authorities must promptly dispose of pending eligible cases within the short prescribed timeframe so licensees can complete export obligations and utilise the licences by the final cutoff. No further requests for revalidation or extension on these licences will be considered.

Special Currency Basket valuation revised, affecting rupee denominated deferred payment contracts under Indo USSR protocols for repayment of commercial credits.
The Reserve Bank of India revised the Indian Rupee value of the Special Currency Basket governing repayment of rupee denominated commercial credits under the Deferred Payment Protocols dated 30 April 1981 and 23 December 1985; the revision is effective from the stated date and applies to all deferred payment contracts concluded under both Protocols.