GST India Solution

24 / 2013-C.E. dt. 19/06/2013

Amendment in Para 2.38 of Foreign Trade Policy, 2009-2014.

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II
SECTION 3, SUB SECTION (II)

GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE

Notification No. 24 (RE-2013)/2009-2014

New Delhi, Dated the 19^th June, 2013

Subject: Amendment in Para 2.38 of Foreign Trade Policy, 2009-2014.

S.O. (E): In exercise of powers conferred under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby makes the following amendment in paragraph 2.38 of Foreign Trade Policy, 2009-2014:
2.       The existing sentence in Para 2.38 of Foreign Trade Policy, 2009-2014 will be followed by:
“However, re-export of such defective parts/spares by the Companies/firms and Original Equipment Manufacturers shall not be mandatory if they are imported exclusively for undertaking root cause analysis, testing and evaluation purpose.”
3.       After the amendment, Para 2.38 of Foreign Trade Policy, 2009-2014 shall be as under:

“Goods or parts, except restricted under ITC (HS) thereof, on being exported and found defective, damaged or otherwise unfit for use may be imported for repair and subsequent re-export. Such goods shall be allowed clearance without an Authorisation and in accordance with customs notification. However, re-export of such defective parts/spares by the Companies/firms and Original Equipment Manufacturers shall not be mandatory if they are imported exclusively for undertaking root cause analysis, testing and evaluation purpose.”

4.       Effect of this Public Notice:

          Defective parts/spares imported exclusively for undertaking root cause analysis, testing and evaluation purpose by the Companies/firms and Original Equipment Manufacturers may not be re-exported.

Sd/-
(Anup K. Pujari)
Director General of Foreign Trade
Email:dgft@nic.in

[Issued from F. No. 01/92/180/95/AM-10/PC-2(B)]

Opinion

This notification amends para 2.38 of the FTP which is related to defective goods or parts imported for the purposes of repair and subsequent re-export. This notification seeks to grant relaxation from the condition of re-export with respect to defective parts/spares imported exclusively for undertaking root cause analysis, testing and evaluation purpose by the Companies/firms and Original Equipment Manufacturers.

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GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

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