TaxTMI 
TaxTMI 
Registration Certificate (RC) for Export of Cotton - Central Government notifies the modalities and procedure for obtaining Registration Certificate (RC) effected from 01.08.2011.
X X X X Extracts X X X X
X X X X Extracts X X X X
....the powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 2.1 of the Foreign Trade Policy, 2009-14, the Central Government hereby notifies the modalities and procedure for obtaining Registration Certificate (RC) in pursuance of Notification No. 62 (RE-2010)/2009-14 dated 01.08.2011, as under: 2. Registration Certificate (RC) for Export of Cotton [ITC (HS) Code 5201 & 5203] Exporters intending to export cotton [ITC (HS) Codes 5201 and 5203] will apply to the Regional Authority (RA) for grant of Registration Certificate (RC) subject to the following conditions: (i) The applicant should not be a defaulter / must not be in the Deni....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ting Holders of the RC would observe a two stage reporting system, sending two reports to the RA from whom the RC was obtained: (a) a simple first report only about the quantity of export, to whom exported, and when exported, in respect of each consignment immediately on obtaining the Let Export Order (LEO) and (b) a consolidated second report within 35 days of the issue of RC in detail (EP copy of shipping bill required) about all exports done in respect of the complete quantity for which the RC was obtained. 5. RCs obtained till now Holders of any valid RC that was obtained before 1^st August 2011, in respect of which any balance quantity is still to be exported, has the option of getting the RC revalidated or ap....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... of non-performance after grant of Registration Certificate for export of cotton by the Directorate General of Foreign Trade, I / We shall be liable to Penal Action under Section 11(2) of Foreign Trade(Development & Regulation) Act, 1992, (as amended), including (a) forfeiture of performance Bank Guarantee submitted to DGFT and (b) debarment from obtaining any Registration Certificate in future.. 4. I hereby certify that I am authorised to verify and sign this declaration. Signature of the Applicant  ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Director General of Foreign Trade (which expression shall be deemed to include the Joint Director General of Foreign Trade / Deputy Director General of Foreign Trade, or any other authority for the time being authorised to perform the duties of Joint Director General of Foreign Trade / Deputy Director General of Foreign Trade), Department of Commerce, Government of India, New Delhi [hereinafter referred to as the Government] having agreed to grant to _______________________ (full expanded name of the Exporter) having Importer Exporter Code (IEC) Number ______________________, [hereinafter referred to as Exporter], a Registration Certificate for export of __________ MTs of cotton for a value of Rs._____________ (Rupees ____....
X X X X Extracts X X X X
X X X X Extracts X X X X
....l. 5. We,_________________(indicate the name of Bank) further agree that the guarantee herein contained shall remain in full force and effect during the period that would be taken for the performance under the said Registration Certificate, and that it shall continue to be enforceable till all the obligations of the Exporter under or by virtue of the said Registration Certificate have been fully discharged to the satisfaction of the Government or till Jt.DGFT/Dy.DGFT, or any Licensing authority for the time being authorised to perform the duties of Jt.DGFT/Dy.DGFT, Department of Commerce, New Delhi, certifies that the terms and conditions of the said Registration Certificate have been fully and properly carried out by the Export....