STANDING COMMITTEE ON COMMERCE INVITES SUGGESTIONS ON FOREIGN TRADE (DEVELOPMENT AND REGULATION) AMENDMENT BILL, 2009

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t and Regulation) Amendment Bill, 2009, introduced in the Rajya Sabha on the 25th November, 2009, has been referred to the Department Related Parliamentary Standing Committee on Commerce, with Shri Shanta Kumar, Member, Rajya Sabha, as its Chairman, for examination and report. The Bill seeks to amend the Foreign Trade (Development and Regulation) Act, 1992 with a view, interalia, to:- i) Pro....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ationalise as well as improve the system of levying and realising fiscal penalties; vii) Empower Customs and Central Excise Settlement Commission for settlement of customs and excise duty and interest dues; viii) Broaden the scope of word "licence" defined in the Act; ix) Provide a provision for review of all decisions of subordinate officers by Director General of Foreign Trade. The C....