Retrospective effect of the criteria permitting 25% BG for manufacturer exporters having an export turnover of less than Rs 1 crore

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....RCE DIRECTORATE GENERAL OF FOREIGN TRADE POLICY CIRCULAR NO. 21/2002-2007, Dt. 18/03/2003 Attention is invited to Public Notices No 51 dated 04.12.2002 and No 64 dated 19.02.2003 which amended para 4.6 of the Handbook of Procedures (Vol 1) pertaining to "Newcomers" . Specifically, the amendment in PN 51 dated 04.12.2002 was about such manufacturer exporters who had an export turnover o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d having paid both the taxes unless exempted and having a minimum investment in plant and machinery of Rs 50 lakhs. The Advance Licence issued to such domestic companies would carry an endorsement that the bond/ BG furnished would be as per the terms and conditions stipulated by the Department of Revenue. These amendments were carried out to reduce the transaction cost especially for establishe....