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Saturday, Apr 09, 2005
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 Industry & Economy - Foreign Trade


Procedural simplification

  • Single common application form called Aayat Niryaat Form introduced reducing the ocumentation

    requirements by more than 60%.

  • Three categories of advance licences merged into a single category.

  • Annual advance licence, which was available only to status holders, will now be available to all the exporters with some export performance.

  • Export obligation extension for five years under advance licence based on BIFR rehabilitation package.

  • Bank guarantee threshold reduced for units in agri export zones and established service providers and a category of manufacturer exporters.

  • Simplified clubbing norms under the advance licence and EPCG scheme will help exporters in regularizing their cases.

  • Charted Engineer Certificate in lieu of Central Excise Certificate for non-excisable units and those importing spares will be accepted as installation certificate. This will reduce transaction time.

  • Imports made under Served from India Scheme can be transferable within the group companies and managed hotels. The provision will allow bulk sourcing and better utilization of the entitlement.

    Measures for manufacturing sector

  • No safeguard and antidumping duty to be levied on inputs under advance licence for deemed export supplies made to international competitive bidding projects.

  • To promote accelerated export performance, balance export obligation will be waived for the exporters completing 75% of their export obligation in half the prescribed export obligation period under the EPCG scheme.

  • Reduced export obligation and enhanced time available for exports under the EPCG scheme for the imports made by the agriculture sector.

  • Reduced obligation at six times the duty saved amount as against the normal eight times for imports made by the SSI sectors under the EPCG scheme.

  • EPCG scheme will facilitate the modernization of retail sector by allowing concessional duty imports. For this, the retailer should have a minimum covered shopping area of 1,000 square metres.

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