Export house eligibility reduced threshold expands recognition for small, certified and priority exporters under amended foreign trade rules. Export contracts and invoices shall be denominated in freely convertible currency or Indian rupees, but export proceeds must be realised in freely convertible currency; ACU payments are denominated in ACU Dollar; the Government may relax these provisions and contracts may be denominated in Indian rupees against EXIM Bank/Government of India lines of credit. Specified categories of exporters qualify for Export House status on achieving an average FOB/FOR value of Rs.5 crore over the preceding three licensing years. Silver articles are defined to include items containing more than 50% silver by weight, with specified exclusions.
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Provisions expressly mentioned in the judgment/order text.
Export house eligibility reduced threshold expands recognition for small, certified and priority exporters under amended foreign trade rules.
Export contracts and invoices shall be denominated in freely convertible currency or Indian rupees, but export proceeds must be realised in freely convertible currency; ACU payments are denominated in ACU Dollar; the Government may relax these provisions and contracts may be denominated in Indian rupees against EXIM Bank/Government of India lines of credit. Specified categories of exporters qualify for Export House status on achieving an average FOB/FOR value of Rs.5 crore over the preceding three licensing years. Silver articles are defined to include items containing more than 50% silver by weight, with specified exclusions.
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