TaxTMI 
TaxTMI 
TaxTMI 
Amendments in Para 2.79A and 2.79B of Handbook of Procedures for issue of export authorization for "Stock and Sale" of SCOMET items.
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....andbook of Procedures (HBP) of the Foreign Trade Policy (FTP) 2015-20, with immediate effect. 2. The paragraphs 2.79A and 2.79B of the Handbook of Procedures (HBP) of the Foreign Trade Policy (FTP) 2015-20 are substituted to read as under: "2.79 A Issue of export authorization for "Stock and Sale" of SCOMET items Application for grant of authorization for bulk export of SCOMET items (excluding Category O, Category 3A4001, Category 6 and transfer of technology under any category) from an Indian exporter to an entity abroad (hereinafter referred to as 'stockist') for subsequent transfer to the ultimate end users shall be considered by IMWG, on the following conditions: Applicability and scope of policy a. 'Stoc....
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....t to the stockist, and, for grant of in-principle approval for re-export to specified countries of ultimate end use approved by the IMWG; e. No authorization would be required for transfer from the stockist to the ultimate end user(s) within the country of the stockist and for re-export to end users in such approved countries ; f. Re-export to such approved countries would be subject to the export control regulations of the country of the stockist; g. Country would denote an independent sovereign entity which is a distinct national entity in political geography. Hence, transfers within an economic union or a customs union would not qualify as "same country transfers"; Post-reporting for same country transfer and re-export to p....
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.... based on end use/end user verification; Repeat Order cases k. Applications for re-export/re-transfer of SCOMET items from the stockist entity to the end-users for repeat orders shall be considered by IMWG in accordance with paragraph 2.79 of HBP; Annual reporting on inventory of the stockist and transfers/re-exports i. The Indian exporter (Stock & Sale Authorization holder) shall submit a statement of exports made from India to the stockist, transfers made by the stockist to the final end-users and inventory with the stockist, as on 31st December of each calendar year, by 31st January of the following year. A failure to do so may entail imposition of penalty and /or cancellation of authorization under the stock and sale policy; m. The....