Master Circular on Import of Goods and Services
04/2010-11 Dated:- 1-7-2010 Master Circular
FEMA
Master Circular on Import of Goods and Services
Master Circular No. 04/2010-11
Dated 1-7-2010
Import of Goods and Services into India is being allowed in terms of Section 5 of the Foreign Exchange Management Act 1999 (42 of 1999), read with Notification No. G.S.R. 381(E) dated May 3, 2000 viz. Foreign Exchange Management (Current Account) Rules, 2000 as amended from time to time.
2. This Master Circular consolidates the existing instructions on the subject of “Import of Goods and Services” at one place. The list of underlying circulars consolidated in this Master Circular is also furnished.
3. This Master Circular is being issued with a sunset clause of one year. This circular will stand withdrawn on July 1, 2011 and be replaced by an updated Master Circular on the subject.
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Document 1
INDEX
Section A – Introduction
Sec
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C.15. Gold Loans.
19
C.16. Import factoring..
20
C.17. Merchanting Trade…
.20
Annex-1…
Annex – 2.
Annex-3
Annex- 4.
28
Appendix
.43
List of Circulars consolidated in the Master Circular..
43
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AANNN!
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Section A – Introduction
(i)
Import trade is regulated by the Directorate General of Foreign Trade
(DGFT) under the Ministry of Commerce & Industry, Department of Commerce,
Government of India. Authorised Dealer Category – I (AD Category – I) banks
should ensure that the imports into India are in conformity with the Foreign Trade
Policy in force and Foreign Exchange Management (Current Account
Transactions) Rules, 2000 framed by the Government of India vide Notification
No. G.S.R.381 (E) dated May 3, 2000 and the Directions issued by Reserve Bank
under Foreign Exchange Management Act, 1999 from time to time.
(ii) AD Category – I banks should follow normal banking procedures and
adhere to the provisions of Uniform Customs and Practices
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m A-1
Applications by persons, firms and companies for making payments, exceeding
USD 500 or its equivalent, towards imports into India must be made in Form A-1
(Annex-4).
B.3. Import Licenses
Except for goods included in the negative list which require licence under the
Foreign Trade Policy in force, AD Category – I banks may freely open letters of
credit and allow remittances for import. While opening letters of credit, the 'For
Exchange Control purposes' copy of the licence should be called for and special
conditions, if any, attached to such licences should be adhered to. After effecting
remittances under the licence, AD Category – I banks may preserve the copies of
utilised licence /s till they are verified by the internal auditors or inspectors.
B.4. Obligation of Purchaser of Foreign Exchange
(i) In terms of Section 10(6) of the Foreign Exchange Management Act, 1999
(FEMA), any person acquiring foreign exchange is permitted to use it either for the
purpose mention
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the instructions contained in sub-paragraphs (i) and (ii)
above.
B.5.
Time Limit for Settlement of Import Payments
B.5.1. Time limit for normal imports
(i)
In terms of the extant regulations, remittances against imports should be
completed not later than six months from the date of shipment, except in cases
where amounts are withheld towards guarantee of performance, etc.
(ii) AD Category – I banks may permit settlement of import dues delayed due
to disputes, financial difficulties, etc. Interest in respect of delayed payments,
usance bills or overdue interest for a period of less than three years from the date
of shipment may be permitted in terms of the directions in para C.2 of Part III
below.
B.5.2. Time limit for deferred payment arrangements
Deferred payment arrangements, including suppliers and buyers credit, providing
for payments beyond a period of six months from date of shipment up to a period
of less than three years, are treated as trade credits for which
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erson to bring into India currency notes of
Government of India and / or of Reserve Bank subject to such terms and
conditions as the Reserve Bank may stipulate.
B.6.1. Import of foreign exchange into India
A person may –
(i)
send into India without limit foreign exchange in any form other than
currency notes, bank notes and travelers cheques;
(ii) bring into India from any place outside India, without limit foreign exchange
(other than unissued notes), which shall be subject to the condition that such
person makes, on arrival in India, a declaration to the Custom Authorities at the
Airport in the Currency Declaration Form (CDF) annexed to these Regulations;
provided further that it shall not be necessary to make such declaration where the
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aggregate value of the foreign exchange in the form of currency notes, bank notes
or travellers cheques brought in by such person at any one time does not exceed
USD10,000 (US Dollars ten thousand) or its equivalent and/or t
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(a)
(b)
If the amount of advance remittance exceeds USD 100,000 or its
equivalent, an unconditional, irrevocable standby Letter of Credit or a
guarantee from an international bank of repute situated outside India
or a guarantee of an AD Category I bank in India, if such a
guarantee is issued against the counter-guarantee of an international
bank of repute situated outside India, is obtained.
–
In cases where the importer (other than a Public Sector Company or
a Department/Undertaking of the Government of India/State
Government/s) is unable to obtain bank guarantee from overseas
suppliers and the AD Category – I bank is satisfied about the track
record and bonafides of the importer, the requirement of the bank
guarantee / standby Letter of Credit may not be insisted upon for
advance remittances up to USD 5,000,000 (US Dollar five million).
AD Category – I banks may frame their own internal guidelines to
deal with such cases as per a suitable policy framed by the bank's
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HP Billiton, Australia,
d)
ENDIAMA, E. P. Angola,
e)
ALROSA, Russia,
f)
GOKHARAN, Russia,
g)
Rio Tinto, Belgium,
h)
BHP Billiton, Belgium and
i)
(ii)
Namibia Diamond Trading Company (PTY) Ltd. (NDTC).
While allowing the advance remittance, AD bank may ensure the following:
(a) The importer should be a recognized processor of rough diamonds
as per the list to be approved by Gems and Jewellery Export
Promotion Council (GJEPC) in this regard and should have a good
track record of export realisation;
(b)
(c)
AD Category – I bank should undertake the transaction based on
their commercial judgment and after being satisfied about the
bonafides of the transaction;
Advance payments should be made strictly as per the terms of the
sale contract and should be made directly to the account of the
company concerned, that is, to the ultimate beneficiary and not
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(d)
(e)
through numbered accounts or otherwise. Further, due caution may
be exercised to ensure that
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, where the amount of advance payment is
equivalent to or exceeds USD 5,000,000, to the Chief General Manager, Reserve
Bank of India, Foreign Exchange Department, Trade Division, Central Office,
Amar Building, Sir. P. M. Road, Fort, Mumbai – 400 001, on a half yearly basis as
at the end of September and March every year. The report should be submitted
within 15 days from the close of the respective half year.
C.1.3. Advance Remittance for Import of Aircrafts/Helicopters and other
Aviation Related purchases
As a sector specific measure, airline companies which have been permitted by the
Directorate General of Civil Aviation to operate as a schedule air transport service,
can make advance remittance without bank guarantee, up to USD 50 million.
Accordingly, AD Category – I banks may allow advance remittance, without
obtaining a bank guarantee or an unconditional, irrevocable standby Letter of
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Credit, up to USD 50 million, for direct import of each aircraft, heli
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the
Ministry of Finance, Government of India for advance remittances
exceeding USD100,000.
Physical import of goods into India is made within six months (three years in
case of capital goods) from the date of remittance and the importer gives an
undertaking to furnish documentary evidence of import within fifteen days
from the close of the relevant period. It is clarified that where advance is
paid as milestone payments, the date of last remittance made in terms of
the contract will be reckoned for the purpose of submission of documentary
evidence of import.
Prior to making the remittance, the AD Category – I bank may ensure that
the requisite approval of the Ministry of Civil Aviation / DGCA / other
agencies in terms of the extant Foreign Trade Policy has been obtained by
the company, for import.
In the event of non-import of aircraft and aviation sector related products,
AD Category – I bank should ensure that the amount of advance remittance
is immediately repatriate
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D 100,000 (USD One
hundred thousand) or its equivalent would be required.
(c) AD Category – I banks should also follow-up to ensure that the beneficiary
of the advance remittance fulfils his obligation under the contract or agreement
with the remitter in India, failing which, the amount should be repatriated to India.
C.2. Interest on Import Bills
–
(i) AD Category – I bank may allow payment of interest on usance bills or
overdue interest for a period of less than three years from the date of shipment at
the rate prescribed for trade credit from time to time.
(ii) In case of pre-payment of usance import bills, remittances may be made
only after reducing the proportionate interest for the unexpired portion of usance at
the rate at which interest has been claimed or LIBOR of the currency in which the
goods have been invoiced, whichever is applicable. Where interest is not
separately claimed or expressly indicated, remittances may be allowed after
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deducting th
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ier are reshipped out of India, AD
Category-l banks may issue guarantees at the request of importer client for
dispatch/return of the defective goods, according to their commercial judgment.
C.5. Import of Equipment by Business Process Outsourcing (BPO)
Companies for their overseas sites
AD Category – I bank may allow BPO companies in India to make remittances
towards the cost of equipment to be imported and installed at their overseas sites
in connection with the setting up of their International Call Centres (ICCs) subject
to the following conditions:
(i) The BPO company should have obtained necessary approval from the
Ministry of Communications and Information Technology, Government of India and
other authorities concerned for setting up of the ICC.
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(ii) The remittance should be allowed based on the AD Category – I banks'
commercial judgment, the bonafides of the transactions and strictly in terms of the
contract.
(iii)
The remittance is made directly t
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reign
Trade Policy, 100% Export Oriented Units / Units in Special Economic Zones,
Public Sector Undertakings and Limited Companies.
(iv) Import bills received by all limited companies viz. public limited, deemed
public limited and private limited companies.
C.6.2. Receipt of import documents by the importer directly from overseas
suppliers in case of specified sectors
As a sector specific measure, AD Category – I banks are permitted to allow
remittance for imports up to USD 300,000 where the importer of rough diamonds,
rough precious and semi-precious stones has received the import bills /
documents directly from the overseas supplier and the documentary evidence for
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import is submitted by the importer at the time of remittance. AD Category – I
banks may undertake such transactions subject to the following conditions:
(i) The import would be subject to the prevailing Foreign Trade Policy.
(ii) The transactions are based on their commercial judgment and they
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the overseas supplier need not be
obtained in cases where the invoice value does not exceed USD 300,000 provided
the AD Category – I bank is satisfied about the bonafides of the transaction and
track record of the importer constituent.
C.7. Evidence of Import
C.7.1. Physical Imports
(i) In case of all imports, where value of foreign exchange remitted/ paid for
import into India exceeds USD 100,000 or its equivalent, it is obligatory on the part
of the AD Category – I bank through whom the relative remittance was made, to
ensure that the importer submits :-
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(a) The Exchange Control copy of the Bill of Entry for home consumption,
or
(b) The Exchange Control copy of the Bill of Entry for warehousing, in case of
100% Export Oriented Units,
or
(c) Customs Assessment Certificate or Postal Appraisal Form, as declared by the
importer to the Customs Authorities, where import has been made by post, as
evidence that the goods for which the payment was made have actu
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alent,
(b) the importer is a company listed on a stock exchange in India and whose net
worth is not less than Rs. 100 crore as on the date of its last audited balance
sheet,
or
the importer is a public sector company or an undertaking of the Government of
India or its departments.
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(ii) The above facility may also be extended to autonomous bodies, including
scientific bodies/academic institutions, such as Indian Institute of Science / Indian
Institute of Technology, etc. whose accounts are audited by the Comptroller and
Auditor General of India (CAG). AD Category – I bank may insist on a declaration
from the auditor/CEO of such institutions that their accounts are audited by CAG.
C.7.3. Non Physical Imports
(i)
Where imports are made in non-physical form, i.e., software or data through
internet / datacom channels and drawings and designs through e-mail/fax, a
certificate from a Chartered Accountant that the software / data / drawing/ design
has been
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respect of cases which are under investigation by investigating
agencies, the documents may be destroyed only after obtaining clearance from
the investigating agency concerned.
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C.10. Follow up for Import Evidence
(i) In case an importer does not furnish any documentary evidence of import,
as required under paragraph C.7. of Part III, within 3 months from the date of
remittance involving foreign exchange exceeding USD 100,000, the AD Category
– I bank should rigorously follow-up for the next 3 months, including issuing
registered letters to the importer.
(ii) AD Category – I bank should forward a statement on half-yearly basis as at
the end of June & December of every year, in form BEF (Annex 1) furnishing
details of import transactions, exceeding USD 100,000 in respect of which
importers have defaulted in submission of appropriate document evidencing
import within 6 months from the date of remittance, to the Regional Office of
Reserve Bank under whose juris
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will
be acting as an agent of the supplier (consignor). Remittances towards the cost of
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import shall be made as and when sales take place and in terms of the provisions
of agreement entered into between the overseas supplier and nominated
agency/bank. These instructions would also apply to import of platinum and silver.
C.12.2. Import on unfixed price basis
The nominated agency/bank may import gold on outright purchase basis subject
to the condition that although ownership of the gold shall be passed on to the
importer at the time of import itself, the price of gold shall be fixed later, as and
when the importer sells the gold to the users. These instructions would also apply
to import of platinum and silver.
C.13. Direct Import of Gold
AD Category – I bank can open Letters of Credit and allow remittances on behalf
of EOUS, units in SEZs in the Gem & Jewellery sector and the nominated
agencies/banks, for direct import of gold, subject to the following
(i)
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the net worth of the importer customer should be
commensurate with the volume of business turnover. Apart from the above, in
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case of such transactions banks should also make discreet enquiries from other
banks to assess the actual position. Further, in order to establish audit trail of
import/export transactions, all documents pertaining to such transactions must be
preserved for at least five years.
(v) AD Category – I bank should follow up submission of the Bill of Entry by the
importers as stipulated.
(vi) Head Offices/International Banking Divisions of AD Category – I banks
undertaking gold import transactions are required to submit as per the format
enclosed at Annex-3, a monthly statement thereof, to the Chief General Manager,
Trade Division, Foreign Exchange Department, Amar Building, Central Office,
Reserve Bank of India, Sir P.M. Road, Fort, Mumbai 400001.
C.14. Import of Platinum, Palladium, Rhodium and Silver
(a) Suppliers' and Buyers' credit, in
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(iii) The maximum tenor of gold loan would be as per the Foreign Trade Policy
2009-2014, or as notified by the Government of India from time to time in this
regard.
(iv) AD bank may open Standby Letters of Credit (SBLC), for import of gold on
loan basis, where ever required, as per FEDAI guidelines dated April 1, 2003. The
tenor of the SBLC should be in line with the tenor of the gold loan.
(v)
SBLC can be opened only on behalf of entities permitted to import gold on
loan basis, viz. nominated agencies and 100% EOUs/units in SEZ, which are in
the Gem and Jewellery sector.
(vi) SBLC should be in favour of internationally renowned bullion banks only.
AD Category – I bank can obtain a detailed list of internationally renowned bullion
banks from the Gem & Jewellery Export Promotion Council.
(vii) All other existing instructions on import of gold and opening of Letters of
Credit, with usance period not exceeding 90 days, will continue to be applicable.
(viii) AD Ca
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ry) are complied with for the export
leg and import leg, respectively.
(b) The entire merchant trade transaction is completed within a period of 6
months.
(c) The transactions do not involve foreign exchange outlay for a period exceeding
three months.
(d) Payment is received in time for the export leg.
(e) Where the payment for export leg of the transaction precedes the payment for
import leg, AD Category – I banks should ensure that the terms of payment are
such that the liability for the import leg of the transaction is extinguished by the
payment received for the export leg of the transaction, without any delay.
AD Category – I banks may note that short-term credit either by way of suppliers'
credit or buyers' credit is not available for merchanting trade or intermediary trade
transactions.
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Annex-1
BEF
(See paragraph C.10. (ii) of Section-C of Master Circular)
Statement showing the details of remittances effected towards
import in respect of which doc
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ge
Control copy of the Bill of Entry for Home consumption within a reasonable period
of time. Where EDI system has bee implemented by customs and the importer
receives only one copy of the “ex-Bond Bill of Entry” from the customs, Authorised
Dealer bank may advise importer to submit a photocopy of the “ex-Bond Bill of
Entry” for home consumption after clearance of the goods from the warehouse /
bond, which may be duly verified by the Authorised Dealer bank and accepted as
final evidence of import. Cases where 'Into Bond Bill of Entry' has been submitted
need not be reported in BEF statement.
v. The statement should include details of all remittances, exceeding USD 100,000
from India or payments from abroad in connection with imports, including advance
payments, delayed payments, etc. irrespective of the source of funding (i.e. EEFC
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accounts/foreign currency accounts maintained in India and abroad, payments out
of external commercial borrowings, foreign in
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arding subsequent receipt of documentary evidence
of Import from importers whose names were reported in Part I
of earlier BEF statement/s
Sr.
Name
Period of the Date
Amount of
Remarks
No.
and
BEF
of
Remittance
address
statement
receipt
of
and
serial No. of
the
transaction
Currency Rupee
and
equivalent
reported
Amount
earlier in
1
2
Part
I of BEF
statement
3
4
5
6
7
A. Import by parties other than Public Sector Undertakings/Government
Departments
1
2
3
4
Etc
B. Import by Public Sector Undertakings / Government Departments
1.
2.
3.
Etc
Note: Transactions reported in Part II of BEF statement of earlier half-year should
not be repeated in Part II of the current half-year.
CERTIFICATE
i. We certify that the particulars furnished above are true and correct as per our
records.
ii. We further certify that the statement includes all cases which are required to be
reported under the prescribed procedure.
iii. We undertake to continue to pur
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Company (PTY)
Ltd. (NDTC).
Date:
Stamp:
Signature of the Authorised Official of the bank:
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Annex-3
{see paragraph C.13. (vi) of Section-C of Master Circular}
[A.P. (DIR Series) Circular No.2 dated July 9, 2004]
Statement of Gold Imported during the month ended………..
Name of the Bank:
Date of Statement:
Number of
Gold
(i) Delivery
Against
Value of Gold Imported
Transactions
EOU/SEZ Nom.
(USD million)
(Rs.Crore)
Agency/
Bank
EOU/SEZ Nom.
EOU/
Agency SEZ
Nom.
Agency
Bank
Payment
Basis
(ii) Suppliers'
Credit
Basis
(iii)
Consignment
Basis
(iv) Unfixed
Price
Basis
Note:
1. Full details of transactions may be provided in cases where the number of
transactions in respect of a single importer exceeds ten transactions in a month or
the aggregate value of imports exceeds US Dollar 50 million.
2. Details of EOUs/Units in SEZ and Nominated Agencies should be given
separately.
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Annex-4
{see paragraph B.2. of Section B
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of goods imported or to be imported into India
Section A: Import Licence particulars
Import Licence
Prefix
Licence
No.
Suffixes
12 12345
Date of Issue
Date of expiry
Face
Amount to
value
be
of
endorsed
Date Month
Year
Date
Month
Year
licence (in Rs.)
@ Actual amount endorsed in rupees against each licence involved,
should be stated under this column.
Note: If more than one licence is involved, particulars of all licences should be furnished. If the
space is inadequate, separate statement may be attached. The amount utilised against
each licence should invariably be indicated.
Section B: Import particulars
Invoice Details
Quan
tity of
Descript
ion
Harmonis
ed
No
Terms Curr Amount
goods
of goods
System of
Country
of origin
of goods
Countr
y
Mode
of
and (c.i.f., enc
Classificat
from
which
shipm
ent
date f.o.b.,
c.&.f.
ion
good
(air,
Date of
shipment
(if not
known
approxi-
s are
sea
mate
etc.)
consi
post,
date)
gned
ra
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iary trade, form A2 should be used.
Declaration to be furnished by Applicant
I/We declare that
(a) the import licence/s against which the remittance is sought is/are valid and has/have not
been cancelled by DGFT.
(b) the goods to which this application relates have been* imported into India on my/our own
account* will be *
(c) the import is on behalf of @_
*
and
(d) the invoice value of the goods which is declared on this form is the real value of the goods
imported into in India.
*
to be imported*
If the Import has I/We attach the relative Customs-stamped Exchange Control copy of Bill of Entry *
been made
Post parcel wrapper (for imports by post) */Courier Wrapper
(for imports through courier)*
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Date:
@
Strike out item not applicable
Where the import is on behalf of Central/State Government Department or a
company owned by Central/State Government/Statutory Corporation, Local Body,
etc. the nameof the Government Department, Corporation etc. shou
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applicant/s against undertaking furnished by
the latter to submit Customs-stamped Exchange Con Control copy of Bill of Entry of Post
Parcel/courier wrapper within three months
on account of documents received direct by the applicant/s against Customs-stamped
Exchange Control copy of Bill of Entry/post parcel/courier wrapper (attached) submitted by
the latter
(v)
(vi)
to be explained)
(any other case,
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(b) all the Exchange Control regulations applicable to the remittance have been
complied with
(c) the payment to the supplier of the goods has been* made
through
will be*
(Name & Address of the foreign bank)
We also certify/undertake that the relevant Customs-stamped Exchange Control copy of Bill of
Entry or post parcel/courier wrapper
shall be verified by us within three months
[vide certificate (a)(ii) and (iii) above].
has been verified [vide certificate (a) (v) above].
shall be obtained from the applicant/s within three months
[vide certificate (a) (
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e particulars
Import Licence
Prefix
Licence
No.
Suffixes
12 12345
Date of Issue
Date of expiry
Face
Amount to
value
be
of
endorsed
Date Mont Year
Date
h
Mont
h
Year
licence
(in Rs.)
@
@ Actual amount endorsed in rupees against each licence involved,
should be stated under this column.
Note: If more than one licence is involved, particulars of all licences should be furnished. If the
space is inadequate, separate statement may be attached. The amount utilised against
each licence should invariably be indicated.
Section B: Import particulars
Invoice Details
Quan
Descript
tity of
ion
Harmonis
ed
No
Terms Curr Amount goods
of
and (c.i.f., enc
date f.o.b.,
c.&.f.
goods
System of
Classificat
Country Countr
of
y
origin
Mode
of
Date of
shipment
of
from
which
shipm (if not
ent
known
ion
goods
good
(air,
approxi-
s are
sea
mate
etc.)
consi
post,
date)
gned
rail
river,
transp
ort
port,
â˜â–¬â–¬â–¬â–¬
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d be used.
Declaration to be furnished by Applicant
I/We declare that
(e) the import licence/s against which the remittance is sought is/are valid and has/have not
been cancelled by DGFT.
(f) the goods to which this application relates have been* imported into India on my/our
account*
(g) the import is on behalf of @_
will be
*
and
(h) the invoice value of the goods which is declared on this form is the real value of the
goods imported * into in India.
* to be imported
own
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If the
Import
has been
made
I/We attach the relative Customs-stamped Exchange Control copy of Bill of Entry *
Post parcel wrapper (for imports by post)*/Courier Wrapper
(for imports through courier)*
or
If the
Import
has been
made
I/We undertake to produce within three months to the authorised dealer the relative
Customs-stamped Exchange Control copy of Bill of Entry *
* Strike out item not applicable
Post parcel wrapper (for imports by post) */Courier wrapper
(for imports
= = = = = = = =
Plain text (Extract) only
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= = = = = = = =
advance remittance
collection
(ii)
(viii)
in retirement of bills under Letter of Credit opened through
against documents received through our medium for
(iv)
on account of documents received direct by the applicant/s against
undertaking furnished by the latter to submit Customs-stamped
Exchange Control copy of Bill of Entry of Post arcel/courier Exchange
wrapper (attached) submitted by the latter
36
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(V) on account of documents received direct by the applicant/s
against Customs-stamped Exchange Control copy of Bill of Entry/post parcel
wrapper (attached) submitted by the latter
(vi)
(any other case, to be explained)
(b)
all the Exchange Control regulations applicable to the remittance have been
complied with
(d)
the payment to the supplier of the goods has been* made
will be*
through_
(Name & Address of the foreign bank)
We also certify/undertake that the relevant Customs-stamped Exchange Control copy of Bill of
Entry or post parcel/courier wrapper
= = = = = = = =
Plain text (Extract) only
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= = = = = = = =
imports
(Name and address of the beneficiary of remittance)
into India, detailed below:
38
38
39 of 44
Details of goods imported or to be imported into India
Section A: Import Licence particulars
Import Licence
Date of Issue
Date of expiry
Face
Value
Amount
to be
of
endorsed
licence
(in Rs.)
@
Prefix Licence
Suffixes
Date Month
Year
Date Month Year
No.
1
2
1234 5
@ Actual amount endorsed in rupees against each licence involved, should be stated
under this column.
Note: If more than one licence is involved, particulars of all licences should be furnished. If the
space is inadequate, a separate statement may be attached. The amount utilized against
each licence should invariably be indicated.
Section B: Import particulars
Invoice Details
Descrip
No.
and
(c.e.f., Ency
date
f.o.b.,
Terms Curr- Amount Quantity |tion of
of
goods
goods
Harmoni
sed
System
Country Country Mode
Date
of
from
of
of
of
origin
of
which
ship-
ship-
c& f.
C
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
nd Address of Applicant………..
Importer's Code Number
@Nationality..
@ To be filled in capital letters
NOTE: For remittances covering intermediary trade, form A2 should be used.
I/We declare that
Declaration to be furnished by Applicant
the import licence/s against which the remittance is sought is/are valid and has/have not
been cancelled by DGFT.
the goods to which this application relates have been* imported into India on my/our own
(a)
(b)
account*
(c)
the import is on behalf of @
(d)
will be
*
and
If the
Import
has been
the invoice value of the goods which is declared on this form is the real value of the
goods imported * into in India.
to be imported*
I/We attach the relative Customs-stamped Exchange Control copy of Bill of Entry
Post parcel wrapper (for imports by post) */Courier Wrapper
(for imports through courier)*
40
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made
or
If the
import is
to be
made
Date:..
I/We undertake to produce within three months to the authorised de
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
horised dealer
Put a
tick ( )
in the
relevant
block
Certificate to be Furnished by Authorised Dealer (Importer's Banker)
We hereby certify that
(a) this payment is
(i) an advance remittance
(ii) in retirement of bills under Letter of Credit opened through us
(iii) against documents received through our medium for collection
(iv) on account of documents received direct by the applicant/s against
undertaking furnished by the latter to submit Customs-stamped
Exchange Control copy of Bill of Entry of Post Parcel/courier wrapper
within three months
(V) on account of documents received direct by the applicant/s against
Customs-stamped Exchange Control copy of Bill of Entry/post
parcel/courier wrapper (attached) submitted by the latter
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(vi)
(any other case, to be explained)
(b) all the Exchange Control regulations applicable to the remittance have been
complied with
(e) the payment to the supplier of the goods has been* made
through_
will be*
(Name & Ad
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
AP (DIR Series) Circular No. 66 dated February 6, 2004
AP (DIR Series) Circular No. 72 dated February 20, 2004
AP (DIR Series) Circular No. 2 dated July 9, 2004
AP (DIR Series) Circular No. 34 dated February 18, 2005
AP (DIR Series) Circular No. 1 dated July 12, 2005
AP (DIR Series) Circular No. 33 dated February 28, 2007
• AP (DIR Series) Circular No. 34 dated March 2, 2007
AP (DIR Series) Circular No. 63 dated May 25, 2007
•
AP (DIR Series) Circular No. 77 dated June 29, 2007
AP (DIR Series) Circular No. 18 dated November 7, 2007
AP (DIR Series) Circular No. 37 dated April 16, 2008
• AP (DIR Series) Circular No. 03 dated August 4, 2008
•
•
•
AP (DIR Series) Circular No. 08 dated August 21, 2008
AP (DIR Series) Circular No. 09 dated August 21, 2008
AP (DIR Series) Circular No. 12 dated August 28, 2008
AP (DIR Series) Circular No. 13 dated September 1, 2008
AP (DIR Series) Circular No. 15 dated September 8, 2008
AP (DIR Series) C
= = = = = = = =
Plain text (Extract) only
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= = = = = = = =