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Export Export Export Export ---- ImportImportImportImport Bureau Of IndiaBureau Of IndiaBureau Of IndiaBureau Of India 2nd Floor, -166, shrenikpark, Akota,

vadodara [gujarat] india tele: +91 9724227575/9724228787

Email: [email protected], [email protected]

Issue No.02/2015 Dated: 09.01.2015 Dear Subscribers and Members, Reg: DGFT, Customs, Central Excise, RBI/FEMA Notifications, Circulars, etc., from 01.01.2014 to 09.01.2015. We are pleased to forward following Notifications/Trade Notices, Public notices, etc., DGFT-Public Notice No.80/(RE 2013)/2009-14 dtd. 06-01-2015: Online IEC applications: Postponement of the date of operationalisation of Public Notice No. 76 dated the 27th of November, 2014 DGFT-Trade Notices Trade Notice No. 12/2014dtd.08.01.2015:Allocation of quantity of Rough Marble and Travertine Blocks for import for Financial Year 2014-15. DGFT-Notifications No. 106(RE-2013) / 2009-2014 dtd. 01.01.2015:Amendment in import policy conditions under ITC (HS) 4 digit code 3808. No.105(RE-2013) / 2009-2014 dtd. 01.01.2015: Import Policy regime of Radio Navigation Equipment under ITC (HS) 4 digit code 8526. CUSTOMS –Tariff No.03/2015-Cus,dtd. 07-01-2015:Seeks to further amend notification no 12/2012 - Customs dated 17/03/2012 No. 02/2015-Cus,dtd. 06-01-2015:Seeks to amend Notification No. 60/2011 – Customs, dated 14th July 2011, so as to include Srinagar, Tripura, on the India-Bangladesh Border, in order to extend exemption from the whole of the duty of Customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 to commodities traded in the Srinagar Border Haat, with effect from the 13th day of January 2015. No. 01/2015-Cus,dtd. 05-01-2015:Seeks to amend Notification No. 10/2008-Customs, dated 15th January, 2008 so as to further deepen the tariff concessions in respect of goods covered under the Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore CUSTOMS –Non Tariff No 01/2015 (NT) dtd. 01-01-2015: Rate of exchange of conversion of each of the foreign currency with effect from 02nd January, 2015 CUSTOMS –Anti Dumping Duty 02/2015-Cus (ADD), dtd. 07-01-2015:Seeks to extend the validity of notification No. 10/2010-Customs dated 19.02.2010 for a further period of one year i.e. upto and inclusive of 18.02.2016 01/2015-Cus (ADD), dtd. 05-01-2015:Seeks to extend the validity of notification No. 125/2010-Customs dated 16.12.2010 for a further period of one year i.e, upto and inclusive of 07.12.2015 Central Excise – Tariff 02/2015-CE, dtd. 07-01-2015: Seeks to further amend notification no 12/2012 - Central Excise dated 17/03/2012 01/2015-CE, dtd. 01-01-2015:Seeks to further amend notification no 12/2012 - Central Excise dated 17/03/2012 so as to increase the Basic Excise Duty (BED) on petrol (both branded as well as unbranded) and diesel (both branded as well as unbranded) RBI/FEMA- Circulars RBI//2014-15/388 A.P. (DIR Series) Circular No.57dtd 06-01-2015:Exim Bank's Line of Credit of USD 144 million to the Government of the Republic of Liberia RBI/2014-15/387 A.P. (DIR Series) Circular No. 56 dtd 06-01-2015: Non-resident guarantee for non-fund based facilities entered between two resident entities RBI/2014-15/377 A.P. (DIR Series) Circular No. 55 dtd. 01-01-2015: Security for External Commercial Borrowings

Looking forward to serve you in no time. Yours Sincerely, S..C. Gajjar Director +91 9724228787/9724227575




DGFT – PUBLIC NOTICES

Government of India Ministry of Commerce & Industry

Department of Commerce Udyog Bhawan, New Delhi

Public Notice 80 / (RE-2013)/2009-2014 Dated the 06 January, 2015 Subject: Online IEC applications: Postponement of the date of operationalisation of Public Notice No. 76 dated the 27th of November, 2014 In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy (2009-2014), the Director General of Foreign Trade hereby postpones the date of operationalisation of the Public Notice No. 76 (RE-2013) /2009-2014 dated 27th of November, 2014 vide which amendments in ANF 2A of Handbook of Procedure Vol. I (Appendices and Aayat Niryat Forms), 2009-2014 were made. 2. Vide the Public Notice No. 76 (RE-2013), IEC applications were mandated to be submitted online with effect from 01.01.2015. However, due to some unforeseen technical problems it has not been possible to operationalise the new online IEC system. Therefore, till such time the new online system is operationalised and made effective, from a new date to be notified subsequently, applicants seeking to obtain IEC may fill the Application Form and submit requisite documents and fees (Rs.250/) to the concerned jurisdictional RAs as per the procedure, as existing prior to 01/01/2015. 3. Effect of this Public Notice: Operationalization of Public Notice No. 76 (RE-2013)/2009-2014 dated the 27th of November, 2014, vide which amendments in ANF 2A of Handbook of Procedure Vol. I (Appendices and Aayat Niryat Forms), 2009-2014 were notified, has been postponed and the new date for the same will be notified at a later date. Till such time the new system is operationalised, applicants seeking IEC may submit their applications in the earlier format as per the earlier procedure (existing prior to 01/01/2015), along with requisite documents and fees to the concerned jurisdictional RA. (Pravir Kumar) Director General of Foreign Trade [F.No.01/93/180/20/AM-13/ PC-2(B)]




DGFT – TRADE NOTICES


Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi-110011.

Trade Notice No. 12/2014, dated 8th January 2015 To, Members of Trade All Regional Authorities of DGFT All Custom Authorities Subject: Allocation of quantity of Rough Marble and Travertine Blocks for import for Financial Year 2014-15. In terms of Notification No. 99(RE-2013)/2009-2014 dated 20.11.2014, the allocation of 8 lakh MTs of Rough Marble and Travertine Blocks for import to 472 applicants is attached as Annexure to this Trade Notice. 2. Issue of import authorisation by Regional Authorities of DGFT would commence from 9th January 2015 and end on 15th January 2015. In case, any applicant/firm is found to have submitted false or erroneous information or have made any mis-declaration / misrepresentation, such applicant/firm, (a) shall forfeit the allocation made in this Trade Notice, (b) shall be debarred from allocation of Rough Marble and Travertine Blocks in future and (c) shall be liable for penal action under the provisions of Foreign Trade (D&R) Act, 1992, as amended. 3. Authorisation holders shall file monthly returns regarding imports made by them, to the concerned Regional Authority of DGFT by the 15th of each succeeding month in which license is obtained (for example, if a license is obtained on 9th January, the authorisation holder will file monthly return for imports made in January by 15th of February) and for each month thereafter by the 15th day. This is a mandatory requirement as per para 3(C)(V) of the said notification no. 99 dated 20.11.2014. Annexure: List of 472 applicants with quantity allocated and file number of the Regional Authority (9 Pages). (Rajesh Malhotra) Dy. Director General of Foreign Trade For Director General of Foreign Trade E-mail: [email protected] [File No. 01/53/162/Misc/AM15/Marble-26/IC]




DGFT – NOTIFICATIONS



Notification No. 106/(RE-2013)/2009-2014

Dated the 1 January, 2015

Subject: Amendment in import policy conditions under ITC (HS) 4 digit code 3808.

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.3 and 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby inserts the following Policy condition as Policy Condition no. 3 under Chapter 38 of ITC (HS), 2012 – Schedule – 1 (Import Policy): “3. Under Section [9] of the Insecticides Act, 1968 all chemicals intended to be used as insecticides, rodenticides, fungicides, herbicides etc. [referred to as ‘insecticides’ under the Act] require mandatory registration for import. In cases, where the ‘insecticide’ is imported for non-insecticidal purpose, an import permit is necessary from the Registration Committee under the Department of Agriculture and Cooperation. The Registration Committee while granting registration or a permit for import of an insecticide spells out the conditions for import which inter alia, may include reference to the source of import. No ‘insecticide’ can be imported from a source other than that specified on the certificate of registration or the permit, as the case may be. In addition, the Registration Committee may issue regulatory guidelines from time to time with respect to safety, efficacy, quality etc. which warrant full compliance from importers.”

2. Effect of this Notification: The policy provisions under the Insecticides Act, 1968 for import of insecticides under EXIM code 3808 of Chapter 38 in ITC (HS), 2012 – Schedule – I (Import Policy) are being notified.

(Pravir Kumar) Director General of Foreign Trade

(Issued from File No.01/53/162/Misc./AM-15/M-23/IC/PC-2-A)




DGFT – NOTIFICATIONS



Notification No. 105 /(RE-2013) / 2009-2014

Dated the 1 January, 2015

Subject: Import Policy regime of Radio Navigation Equipment under ITC (HS) 4 digit code 8526.

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.3 and 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends the Import Policy regime of Radio Navigation Equipment under ITC (HS) code 85269190 (Other) under Chapter 85 of ITC (HS), 2012 – Schedule – I (Import Policy), as below:

Exim Code

Item Description

Policy Existing Policy Conditions Revised Policy Conditions

85269190 Other Restricted

However, import of Global Positioning System (GPS) Receiver and Differential Global Positioning System (DGPS) Receiver is free.

However, import of Global Positioning System (GPS) Receiver and Differential Global Positioning System (DGPS) Receiver & GSM / CDMA based vehicle tracking system having a valid International Mobile Station Equipment Identity (IMEI) / Electronic Serial Number (ESN) / Mobile Equipment Identifier (MEID) number are free.”

2. There shall be no changes in Para 16 of the General Notes regarding Import Policy of ITC (HS), 2012 – Schedule – I (Import Policy) about multi-channel GSM / CDMA receivers, transmitters and trans – receivers capable of receiving, transmitting or both, in two or more frequencies as these items shall continue to be “Restricted” for imports.

3. Effect of this Notification: No license is required for import of GSM/CDMA based vehicle tracking system having a valid International Mobile Station Equipment Identity (IMEI) / Electronic Serial Number (ESN) / Mobile Equipment Identifier (MEID) number.

(Pravir Kumar) Director General of Foreign Trade and

(Issued from File No. No.01/89/180/60/AM-99/PC-2-A)




CUSTOMS – TARIFF

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE) Notification No. 03/2015-Customs New Delhi, the 7th January, 2015 G.S. R. (E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012-Customs, dated the 17th March,2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i),vide number G.S.R.185 (E), dated the 17th March,2012, namely:- In the said notification, after the Table, in the proviso, clause (bd) and the entries relating thereto, shall be omitted. [F. No. 354/126/2014-TRU] (Akshay Joshi) Under Secretary to the Government of India

Note.- The principal notification No. 12/2012-Customs, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185(E), dated the 17th March, 2012 and last amended by notification No. 39 /2014-Customs dated the 31st December, 2014, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R 937(E), dated the 31st December, 2014.

Export Export Export Export ---- ImImImImportportportport Bureau Of IndiaBureau Of IndiaBureau Of IndiaBureau Of India 2nd Floor, -166, shrenikpark, Akota,



CUSTOMS – TARIFF


(DEPARTMENT OF REVENUE)

Notification No. 02/2015-Customs New Delhi, the 6th of January, 2015 G.S.R. ____ (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue, No. 60/2011-Customs, dated the 14th July, 2011, published vide number G.S.R. 536(E), dated the 14th July, 2011, namely:- In the said notification, for condition (i), the following shall be substituted, namely: - “(i) the importer produces evidence to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs, as the case may be, that such goods have, in fact, been locally produced in Bangladesh and are imported into India through the land route from Balat, Kalaichar or Srinagar (Tripura) land customs station for sale in Balat, Kalaichar or Srinagar (Tripura) border haats, as the case may be;”. 2. This notification shall come into force with effect from the 13th day of January, 2015. F. No. 354/64/2010-TRU] (Akshay Joshi) Under Secretary to the Government of India Note: - The principal notification No. 60/2011-Customs, dated the 14th July, 2011 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 536(E), dated the 14th July, 2011.

ExpExpExpExport ort ort ort ---- ImportImportImportImport Bureau Of IndiaBureau Of IndiaBureau Of IndiaBureau Of India 2nd Floor, -166, shrenikpark, Akota,



CUSTOMS – TARIFF

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance

(Department of Revenue)

Notification No. 01/2015-Customs New Delhi, the 5th of January, 2015 G.S.R. _____ (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 10/2008-Customs, dated the 15th January, 2008, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008, namely:- In the said notification, for the Table, the following Table shall be substituted, namely: -

“Table

S. No. Tariff item of the First Schedule

Description of goods Rate

(1) (2) (3) (4)

1 14019010 All goods 0.00%

2 15180031 All goods 8.89%

3 15180039 All goods 3.33%

4 15180040 All goods 8.89%

5 18061000 All goods 3.33%

6 18062000 All goods 3.33%

7 18063100 All goods 0.00%

8 19011010 All goods 0.00%

9 19011090 All goods 0.00%

10 19012000 All goods 0.00%

11 19021900 All goods 0.00%

12 19041010 All goods 0.00%

13 19041020 All goods 0.00%

14 19041030 All goods 0.00%

15 19041090 All goods 0.00%

16 19059010 All goods 3.33%

17 19059020 All goods 3.33%

18 19059030 All goods 3.33%

19 19059040 All goods 3.33%

20 19059090 All goods 3.33%

21 22011010 All goods 0.00%

22 22011020 All goods 0.00%

23 22029010 All goods 3.33%

24 22029020 All goods 3.33%

25 22029030 All goods 3.33%

26 22029090 All goods 3.33%

27 26190010 All goods 0.00%

28 26190090 All goods 0.00%

29 27075000 All goods 0.00%

30 27079900 All goods 0.00%

31 27111300 All goods 0.00%

32 27111900 All goods 0.00%

33 28369910 All goods 0.00%

34 28369920 All goods 0.00%

35 28369930 All goods 0.00%

36 28369990 All goods 0.00%

37 29012300 All goods 0.00%

38 29031500 All goods 0.00%

39 29032100 All goods 0.00%

40 29051220 All goods 5.28%

41 29051300 All goods 0.00%

42 29051620 All goods 0.00%

43 29051900 All goods 6.67%

44 29053200 All goods 5.28%

45 29071110 All goods 5.28%

46 29071190 All goods 5.28%

47 29071300 All goods 0.00%

48 29152100 All goods 5.28%

49 29152400 All goods 0.00%

50 29153100 All goods 0.00%

51 29157010 All goods 5.28%

52 29157020 All goods 5.28%

53 29157030 All goods 5.28%

54 29157040 All goods 5.28%

55 29157050 All goods 5.28%

56 29157090 All goods 5.28%

57 29161510 All goods 0.00%

58 29161590 All goods 0.00%

59 29173200 All goods 5.28%

60 29304000 All goods 0.00%

61 29332990 All goods 0.00%

62 29411030 All goods 0.00%

63 32021000 All goods 5.28%

64 32061110 All goods 0.00%

65 32081010 All goods 0.00%

66 32081020 All goods 0.00%

67 32081030 All goods 0.00%

68 32081090 All goods 0.00%

69 32082010 All goods 0.00%

70 32082020 All goods 0.00%

71 32082030 All goods 0.00%

72 32082090 All goods 0.00%

73 32089011 All goods 0.00%

74 32089019 All goods 0.00%

75 32089021 All goods 0.00%

76 32089022 All goods 0.00%

77 32089029 All goods 0.00%

78 32089030 All goods 0.00%

79 32089041 All goods 0.00%

80 32089049 All goods 0.00%

81 32089050 All goods 0.00%

82 32089090 All goods 0.00%

83 32091010 All goods 0.00%

84 32091090 All goods 0.00%

85 32099010 All goods 1.11%

86 32099020 All goods 1.11%

87 32099090 All goods 1.11%

88 32151110 All goods 0.00%

89 32151120 All goods 0.00%

90 32151130 All goods 0.00%

91 32151140 All goods 0.00%

92 32151190 All goods 0.00%

93 32151910 All goods 0.00%

94 32151920 All goods 0.00%

95 32151930 All goods 0.00%

96 32151940 All goods 0.00%

97 32151990 All goods 0.00%

98 32159010 All goods 0.00%

99 32159020 All goods 0.00%

100 32159030 All goods 0.00%

101 32159040 All goods 0.00%

102 32159090 All goods 0.00%

103 33029011 All goods 5.56%

104 33029012 All goods 5.56%

105 33029019 All goods 5.56%

106 33029020 All goods 5.56%

107 33029090 All goods 5.56%

108 33051010 All goods 0.00%

109 33072000 All goods 0.00%

110 33079010 All goods 0.00%

111 33079020 All goods 0.00%

112 33079090 All goods 0.00%

113 34021200 All goods 5.56%

114 34021300 All goods 5.56%

115 34021900 All goods 0.00%

116 34022010 All goods 0.00%

117 34022020 All goods 0.00%

118 34022090 All goods 0.00%

119 34039900 All goods 5.28%

120 34049010 All goods 0.00%

121 34049020 All goods 0.00%

122 34049031 All goods 0.00%

123 34049032 All goods 0.00%

124 34049033 All goods 0.00%

125 34049039 All goods 0.00%

126 34049090 All goods 0.00%

127 35051010 All goods 6.67%

128 35051090 All goods 6.67%

129 35061000 All goods 5.56%

130 37079090 All goods 5.56%

131 38085000

Aldrin, Chlordane, Chlorobenzilate, DDT(ISO), Heptachlor (ISO), Parathion Methyl, Lindane 6.67%

132 38089111 All goods 6.67%

133 38089112 All goods 6.67%

134 38089113 All goods 6.67%

135 38089121 All goods 6.67%

136 38089122 All goods 6.67%

137 38089123 All goods 6.67%

138 38089124 All goods 6.67%

139 38089131 All goods 6.67%

140 38089132 All goods 6.67%

141 38089133 All goods 6.67%

142 38089134 All goods 6.67%

143 38089135 All goods 6.67%

144 38089136 All goods 6.67%

145 38089137 All goods 6.67%

146 38089191 All goods 6.67%

147 38089192 All goods 6.67%

148 38089199 All goods 6.67%

149 38089210 All goods 0.00%

150 38089220 All goods 0.00%

151 38089230 All goods 0.00%

152 38089240 All goods 0.00%

153 38089250 All goods 0.00%

154 38089290 All goods 0.00%

155 38091000 All goods 0.00%

156 38170011 All goods 5.28%

157 38170019 All goods 5.28%

158 38231200 All goods 0.00%

159 39011010 All goods 0.60%

160 39011090 All goods 0.60%

161 39012000 All goods 0.60%

162 39013000 All goods 0.56%

163 39019010 All goods 0.60%

164 39019090 All goods 0.60%

165 39021000 All goods 0.60%

166 39023000 All goods 0.60%

167 39029000 All goods 0.56%

168 39031910 All goods 0.60%

169 Omitted

170 39053000 All goods 0.00%

171 39061010 All goods 5.28%

172 39061090 All goods 5.28%

173 39072010 All goods 0.00%

174 39072090 All goods 0.00%

175 39073010 All goods 0.83%

176 39073090 All goods 0.83%

177 39079910 All goods 0.83%

178 39079920 All goods 0.83%

179 39079990 All goods 0.83%

180 39081010 All goods 1.11%

181 39081090 All goods 1.11%

182 39089010 All goods 1.11%

183 39089020 All goods 1.11%

184 39089090 All goods 1.11%

185 39119010 All goods 0.00%

186 39119090 All goods 0.00%

187 39121110 All goods 0.00%

188 39121120 All goods 0.00%

189 39121130 All goods 0.00%

190 39121140 All goods 0.00%

191 39121190 All goods 0.00%

192 39173910 All goods 1.11%

193 39173920 All goods 1.11%

194 39173990 All goods 1.11%

195 39191000 All goods 5.56%

196 39199010 All goods 5.56%

197 39199020 All goods 5.56%

198 39199090 All goods 5.56%

199 39201011 All goods 5.56%

200 39201012 All goods 5.56%

201 39201019 All goods 5.56%

202 39201091 All goods 5.56%

203 39201092 All goods 5.56%

204 39201099 All goods 5.56%

205 39202010 All goods 5.56%

206 39202020 All goods 5.56%

207 39202090 All goods 5.56%

208 39206110 All goods 5.56%

209 39206120 All goods 5.56%

210 39206190 All goods 5.56%

211 39211400 All goods 1.11%

212 39211900 All goods 1.11%

213 39232100 All goods 5.56%

214 39232910 All goods 5.56%

215 39232990 All goods 5.56%

216 39235010 All goods 5.56%

217 39235090 All goods 5.56%

218 39239010 All goods 5.56%

219 39239020 All goods 5.56%

220 39239090 All goods 5.56%

221 39269010 All goods 5.56%

222 39269021 All goods 5.56%

223 39269029 All goods 5.56%

224 39269031 All goods 5.56%

225 39269039 All goods 5.56%

226 39269041 All goods 5.56%

227 39269049 All goods 5.56%

228 39269051 All goods 5.56%

229 39269059 All goods 5.56%

230 39269061 All goods 5.56%

231 39269069 All goods 5.56%

232 39269071 All goods 5.56%

233 39269079 All goods 5.56%

234 39269080 All goods 5.56%

235 39269091 All goods 5.56%

236 39269099 All goods 5.56%

237 40169990 All goods 5.56%

238 49070010 All goods 0.00%

239 49070020 All goods 0.00%

240 49070090 All goods 0.00%

241 50060090 All goods 0.00%

242 52082990 All goods 5.56%

243 52083390 All goods 5.56%

244 52083990 All goods, other than upholstery fabrics 5.56%

245 52083990 Upholstery fabrics 5.56% or Rs. 150 per kg whichever is higher

246 52085990 All Goods 5.56%

247 52092990 All goods 5.56%

248 54023100 All goods 1.11%

249 54023200 All goods 1.11%

250 54023300 All goods 0.83%

251 54024900 All goods 1.11%

252 54025100 All goods 1.11%

253 54041100 All goods 1.11%

254 55020010 All goods 0.00%

255 55020020 All goods 0.00%

256 55020090 All goods 0.00%

257 59039010 All goods 5.56%

258 59039020 All goods 5.56%

259 59039090 All goods 5.56%

260 59061000 All goods 0.00%

261 60011010 All goods 1.11%

262 60011020 All goods 1.11%

263 60011090 All goods 1.11%

264 60012100 All goods 1.11%

265 60012200 All goods 1.11%

266 60012900 All goods 0.00%

267 60019100 All goods 0.00%

268 60019200 All goods 1.11%

269 60019910 All goods 0.00%

270 60019990 All goods 0.00%

271 60024000 All goods 0.00%

272 60029000 All goods 0.00%

273 60031000 All goods 0.00%

274 60032000 All goods 1.11%

275 60033000 All goods 1.11%

276 60034000 All goods 0.00%

277 60039000 All goods 0.00%

278 60041000 All goods 0.00%

279 60049000 All goods 0.00%

280 60051000 All goods 1.11%

281 60052100 All goods 1.11%

282 60052200 All goods 1.11%

283 60052300 All goods 0.00%

284 60052400 All goods 1.11%

285 60053100 All goods 0.00%

286 60053200 All goods 0.00%

287 60053300 All goods 0.00%

288 60053400 All goods 1.11%

289 60054100 All goods 0.00%

290 60054200 All goods 0.00%

291 60054300 All goods 0.00%

292 60054400 All goods 1.11%

293 60059000 All goods 0.00%

294 63079011 All goods 0.00%

295 63079012 All goods 0.00%

296 63079013 All goods 0.00%

297 63079019 All goods 0.00%

298 63079020 All goods 0.00%

299 63079090 All goods 0.00%

300 68091900 All goods 0.00%

301 69139000 All goods 0.00%

302 70071900 All goods 5.56%

303 70072900 All goods 5.56%

304 70080010 All goods 1.11%

305 70080020 All goods 1.11%

306 70080090 All goods 1.11%

307 70112000 All goods 0.00%

308 71101110 All goods 0.00%

309 71101120 All goods 0.00%

310 72022100 All goods 0.00%

311 72041000 All goods 0.00%

312 72042110 All goods 0.00%

313 72042190 All goods 0.00%

314 72042910 All goods 0.00%

315 72042920 All goods 0.00%

316 72042990 All goods 0.00%

317 72043000 All goods 0.00%

318 72044100 All goods 0.00%

319 72044900 All goods 0.00%

320 72045000 All goods 0.00%

321 72089000 All goods 0.00%

322 72099000 All goods 0.00%

323 72101210 All goods 0.00%

324 72101290 All goods 0.00%

325 72104900 All goods 0.00%

326 72107000 All goods 0.00%

327 72122010 All goods 0.00%

328 72122090 All goods 0.00%

329 72139910 All goods 0.00%

330 72139920 All goods 0.00%

331 72139990 All goods 0.00%

332 72189910 All goods 0.00%

333 72189990 All goods 0.00%

334 72251100 All goods 0.00%

335 72261100 All goods 0.00%

336 73041120 All goods 0.00%

337 73041190 All goods 0.00%

338 73042310 All goods 0.00%

339 73042390 All goods 0.00%

340 73042910 All goods 0.00%

341 73042990 All goods 0.00%

342 73049000 All goods 0.00%

343 73051211 All goods 0.00%

344 73051219 All goods 0.00%

345 73051221 All goods 0.00%

346 73051229 All goods 0.00%

347 73072100 All goods 0.00%

348 73083000 All goods 0.00%

349 73269091 All goods 5.56%

350 74032100 All goods 0.00%

351 74099000 All goods 0.00%

352 74102100 All goods 0.00%

353 74112100 All goods 0.00%

354 74199100 All goods 0.00%

355 76020010 All goods 0.00%

356 76020090 All goods 0.00%

357 76061200 All goods 0.00%

358 76072010 All goods 0.00%

359 76072090 All goods 0.00%

360 76169910 All goods 0.00%

361 76169920 All goods 0.00%

362 76169930 All goods 0.00%

363 76169990 All goods 0.00%

364 78050010 All goods 0.00%

365 78050020 All goods 0.00%

366 79020090 All goods 0.00%

367 81129200 All goods 0.00%

368 81129900 All goods 0.00%

369 82033000 All goods 0.00%

370 82059000 All goods 0.00%

371 82071300 All goods 1.11%

372 82073000 All goods 0.00%

373 82079010 All goods 0.00%

374 82079020 All goods 0.00%

375 82079030 All goods 0.00%

376 82079090 All goods 0.00%

377 82090010 All goods 1.11%

378 82090090 All goods 1.11%

379 83024110 All goods 0.00%

380 83024120 All goods 0.00%

381 83024190 All goods 0.00%

382 83024200 All goods 0.00%

383 83026000 All goods 0.00%

384 83059010 All goods 0.00%

385 83059020 All goods 0.00%

386 83059090 All goods 0.00%

387 83099010 All goods 0.00%

388 83099020 All goods 0.00%

389 83099030 All goods 0.00%

390 83099090 All goods 0.00%

391 83119000 All goods 0.00%

392 84091000 All goods 0.00%

393 84099111 All goods 0.00%

394 84099112 All goods 0.00%

395 84099113 All goods 0.00%

396 84099114 All goods 0.00%

397 84099120 All goods 0.00%

398 84099191 All goods 0.00%

399 84099192 All goods 0.00%

400 84099193 All goods 0.00%

401 84099194 All goods 0.00%

402 84099199 All goods 0.00%

403 84137010 All goods 5.28%

404 84137091 All goods 5.28%

405 84137092 All goods 5.28%

406 84137093 All goods 5.28%

407 84137094 All goods 5.28%

408 84137095 All goods 5.28%

409 84137096 All goods 5.28%

410 84137097 All goods 5.28%

411 84137099 All goods 5.28%

412 84138110 All goods 0.83%

413 84138120 All goods 0.83%

414 84138130 All goods 0.83%

415 84138190 All goods 0.83%

416 84139110 All goods 0.00%

417 84139120 All goods 0.00%

418 84139130 All goods 0.00%

419 84139140 All goods 0.00%

420 84139190 All goods 0.00%

421 84141000 All goods 0.00%

422 84143000 All goods 5.28%

423 84159000 All goods 0.00%

424 84185000 All goods 5.28%

425 84186100 All goods 5.28%

426 84189900 All goods 0.00%

427 84224000 All goods 0.00%

428 84269100 All goods 0.00%

429 84314100 All goods 0.00%

430 84314200 All goods 0.00%

431 84314910 All goods 0.00%

432 84324000 All goods 0.00%

433 84501100 All goods 5.56%

434 84569910 All goods 0.00%

435 84569990 All goods 0.00%

436 84571010 All goods 0.00%

437 84571020 All goods 0.00%

438 84743200 All goods 0.00%

439 84821011 All goods 0.00%

440 84821012 All goods 0.00%

441 84821013 All goods 0.00%

442 84821020 All goods 0.00%

443 84821030 All goods 0.00%

444 84821040 All goods 0.00%

445 84821051 All goods 0.00%

446 84821052 All goods 0.00%

447 84821053 All goods 0.00%

448 84821090 All goods 0.00%

449 84825011 All goods 0.00%

450 84825012 All goods 0.00%

451 84825013 All goods 0.00%

452 84825021 All goods 0.00%

453 84825022 All goods 0.00%

454 84825023 All goods 0.00%

455 84828000 All goods 0.00%

456 84839000 All goods 5.28%

457 85061000 All goods 0.00%

458 85063000 All goods 0.00%

459 85064000 All goods 0.00%

460 85065000 All goods 0.00%

461 85066000 All goods 1.11%

462 85068010 All goods 1.11%

463 85068090 All goods 1.11%

464 85069000 All goods 1.11%

465 85161000 All goods 5.56%

466 85169000 All goods 1.11%

467 85182100 All goods 1.11%

468 85182200 All goods 1.11%

469 85183000 All goods 1.11%

470 85184000 All goods 1.11%

471 85185000 All goods 5.56%

472 85189000 All goods 1.11%

473 85198910 All goods 1.11%

474 85198920 All goods 1.11%

475 85198930 All goods 1.11%

476 85198940 All goods 1.11%

477 85198990 All goods 1.11%

478 85199200 All goods 0.00%

479 85219010 All goods 1.11%

480 85219020 All goods 1.11%

481 85219090 All goods 1.11%

482 85271300 All goods 0.00%

483 85279100 All goods 0.00%

484 85311010 All goods 5.56%

485 85311020 All goods 5.56%

486 85311090 All goods 5.28%

487 85441110 All goods 5.28%

488 85441190 All goods 5.28%

489 85441910 All goods 5.28%

490 85441920 All goods 5.28%

491 85441930 All goods 5.28%

492 85441990 All goods 5.28%

493 85489000 All goods 0.00%

494 87081010 All goods 0.00%

495 87081090 All goods 0.00%

496 87084000 All goods 0.00%

497 87087000 All goods 5.56%

498 87089100 Radiators 1.11%

499 87089900 All goods 5.56%

500 90084000 All goods 0.00%

501 90151000 All goods 0.00%

502 90154000 All goods 0.00%

503 90189094 All goods 0.00%

504 90282000 All goods 0.00%

505 94032010 All goods 0.00%

506 94032090 All goods 0.00%

507 94033010 All goods 5.56%

508 94033090 All goods 5.56%

509 94036000 All goods 1.11%

510 94038100 All goods 0.00%

511 94038900 All goods 0.00%

512 94039000 All goods 0.00%

513 94054010 All goods 0.00%

514 94054090 All goods 0.00%

515 95041000 All goods 0.00%

516 95042000 All goods 0.00%

517 95069110 All goods 0.00%

518 95069190 All goods 0.00%

519 96061010 All goods 0.00%

520 96061020 All goods 0.00%

521 96062910 All goods 0.00%

522 96062990 All goods 0.00%

523 96071110 All goods 0.00%

524 96071190 All goods 0.00%

525 96071910 All goods 0.00%

526 96071990 All goods 0.00%

527 96072000 All goods 0.00%

528 96121010 All goods 1.11%

529 96121020 All goods 1.11%

530 96121030 All goods 1.11%

531 96121090 All goods 1.11%

532 96190010 All goods 5.56%”

[F. No. 354/9/2004-TRU (Pt. III)] (Akshay Joshi) Under Secretary to the Government of India Footnote.- The principal notification No. 10/2008-Customs, dated the 15th January, 2008 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 33(E), dated the 15th January, 2008 and last amended by notification No.50/2013-Customs, dated the 16th December, 2013, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 779 (E), dated the 16th December, 2013.




CUSTOMS – NON TARIFF

GOVERNMENT OF INDIA MINISTRY OF FINANCE

DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE AND CUSTOMS

NOTIFICATION NO.01/2015-CUSTOMS (N.T.)

DATED THE 1st

January, 2015 11 Pausa, 1936(SAKA)

To The Manager, Government of India Press, Mayapuri, Ring Road, New Delhi. S.O. (E). – In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.116/2014-CUSTOMS (N.T.), dated the 18th December, 2014 vide number S.O.3240 (E), dated the 18th December, 2014, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 2nd January, 2015 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

SCHEDULE-I

S. No. Foreign Currency Rate of exchange of one unit of foreign currency equivalent to Indian rupees

(For Imported Goods) (For Export Goods)

1. Australian Dollar 52.30 51.00

2. Bahrain Dinar 172.65 163.20

3. Canadian Dollar 55.10 53.75

4. Danish Kroner 10.45 10.15

5. EURO 77.50 75.65

6. Hong Kong Dollar 8.25 8.10

7. Kuwait Dinar 222.45 210.00

8. New Zealand Dollar 50.05 48.65

9. Norwegian Kroner 8.60 8.35

10. Pound Sterling 99.65 97.45

11. Singapore Dollar 48.30 47.20

12. South African Rand 5.65 5.30

13. Saudi Arabian Riyal 17.35 16.40

14. Swedish Kroner 8.20 8.00

15. Swiss Franc 64.40 62.90

16. UAE Dirham 17.70 16.75

17. US Dollar 63.80 62.75

SCHEDULE-II

S.No. Foreign Currency Rate of exchange of one unit of foreign currency equivalent to Indian rupees

(For Imported Goods) (For Export Goods)

1. Japanese Yen 53.50 52.25

2. Kenya Shilling 72.05 67.80

[F.No.468/01/2015-Cus.V] (Akshay Joshi) Under Secretary to the Government of India




CUSTOMS – ANTI DUMPING DUTY

[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] Government of India Ministry of Finance

(Department of Revenue) Notification No. 02/2015-Customs (ADD) New Delhi, the 7th January, 2015 G.S.R. (E). -Whereas, the designated authority vide notification No.15/17/2014-DGAD, dated the 9th December, 2014, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 9th December, 2014, has initiated review, in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), and in pursuance of rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of anti-dumping duty on “Melamine”, falling under Chapter 29 of the First Schedule to the Customs Tariff Act, originating in, or exported from, People’s Republic of China, imposed vide notification of the Government of India, in the Ministry of Finance (Department of Revenue),No. 10/2010-Customs, dated the 19th February, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 91 (E), dated the 19th February, 2010 and has requested for extension of anti-dumping duty for a further period of one year, in terms of sub-section (5) of section 9A of the Customs Tariff Act. Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 10/2010-Customs, dated the 19th February, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 91 (E), dated 19th February, 2010, namely: - In the said notification, after paragraph 2 and before the Explanation, the following paragraph shall be inserted, namely: - “3. Notwithstanding anything contained in paragraph 2, this notification shall remain in force up to and inclusive of the 18th day of February, 2016, unless revoked earlier.”. [F.No.354/28/2004-TRU (Pt.-I)] (Akshay Joshi) Under Secretary to the Government of India Note: The principal notification was published vide number G.S.R. 91 (E), dated the 19th February, 2010.




CUSTOMS – ANTI DUMPING DUTY

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance

(Department of Revenue) Notification No. 01 /2015-Customs (ADD) New Delhi, the 5th January, 2015 G.S.R. (E). -Whereas, the designated authority vide notification No. 15/20/2014-DGAD, dated the 6th December, 2014, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 6th December, 2014, has initiated review, in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), and in pursuance of rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 (hereinafter referred to as the said rules), in the matter of continuation of anti-dumping duty on all kinds of Synchronous Digital Hierarchy Transmission Equipment (hereinafter referred to as the subject goods), falling under sub-heading 8517 62 or 8517 70 of the First Schedule to the Customs Tariff Act, originating in or exported from China PR and Israel, imposed vide notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 125/2010- Customs, dated the 16th December, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.981(E), dated the 16th December, 2010, and has requested for extension of anti-dumping duty for a further period of one year, in terms of sub-section (5) of section 9A of the Customs Tariff Act, pending the completion of the review. Now, therefore, in exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act and in pursuance of rule 23 of the said rules, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 125/2010- Customs, dated the 16th December, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.981(E), dated the 16th December, 2010, namely: - In the said notification, after the paragraph 2 and before the Explanation, the following paragraph shall be inserted, namely:- “3. Notwithstanding anything contained in paragraph 2, this notification shall remain in force upto and inclusive of the 7th day of December, 2015.”. [F.No. 354/204/2009-TRU (Pt-I)] (Pramod Kumar) Under Secretary to the Government of India Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 16th December, 2010 vide number G.S.R. 981(E), dated the 16th December, 2010.




CENTRAL EXCISE – TARIFF


(DEPARTMENT OF REVENUE) Notification No. 02/2015 - Central Excise New Delhi, the 7th January, 2015 G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012-Central Excise, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E), dated the 17th March, 2012, namely: - In the said notification, in the opening paragraph, the third proviso shall be omitted. [F. No. 354/126/2014-TRU] (Akshay Joshi) Under Secretary to the Government of India Note.- The principal notification No. 12/2012-Central Excise, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E) dated the 17th March, 2012 and last amended vide notification No.1/2015-Central Excise, dated the 1st January, 2015 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 03(E), dated the1st January, 2015.

Export Export Export Export ---- ImportImportImportImport BureaBureaBureaBureau Of Indiau Of Indiau Of Indiau Of India 2nd Floor, -166, shrenikpark, Akota,



CENTRAL EXCISE – TARIFF

GOVERNMENT OF INDIA MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

Notification No. 1/2015-Central Excise

New Delhi, the 1st

January, 2015

Seeks to further amend notification no 12/2012 - Central Excise dated 17/03/2012 so as to increase the Basic Excise Duty (BED) on petrol (both branded as well as unbranded) and diesel (both branded as well as unbranded)

G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.12/2012-Central Excise, dated the 17

th

March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. 163(E), dated the 17th

March, 2012, namely: -

In the said notification, in the Table,-

(i) in serial number 70,- (a) against item (i) of column (3), for the entry in column (4), the entry “ 6.95 per litre” shall be substituted; (b) against item (ii) of column (3), for the entry in column (4), the entry “8.10 per litre” shall be substituted; (ii) in serial number 71,- (a) against item (i) of column (3), for the entry in column (4), the entry “ 5.96 per litre” shall be substituted; (b) against item (ii) of column (3), for the entry in column (4), the entry “ 8.25 per litre” shall be substituted; 2. This notification shall come into force with effect from the 2

nd day of January, 2015.

[F. No.354/123/2014-TRU]

(Akshay Joshi) Under Secretary to the Government of India

Note.- The principal notification No. 12/2012-Central Excise, dated the 17th

March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 163(E) dated the 17

th March, 2012 and was last amended vide

notification No.24/2014-Central Excise, dated the 2nd

December, 2014 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 862(E) dated the 2

nd December, 2014.




RBI/FEMA – CIRCULARS

RBI//2014-15/388 A.P. (DIR Series) Circular No.57

January 06, 2015

To All Category - I Authorised Dealer Banks Madam / Sir, Exim Bank's Line of Credit of USD 144 million to the Government of the Republic of Liberia Export-Import Bank of India (Exim Bank) has entered into an Agreement dated September 11, 2013 with the Government of the Republic of Liberia for making available to the latter, a Line of Credit (LOC) of USD 144 million (USD One Hundred and Forty four Thousand) for financing Power Transmission and Distribution Project. The goods, machinery, equipment and services including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this Agreement. Out of the total credit by Exim Bank under this Agreement, the goods and services including consultancy services of the value of at least 75 per cent of the contract price shall be supplied by the seller from India and the remaining 25 percent goods and services may be procured by the seller for the purpose of Eligible Contract from outside India.

2. The Credit Agreement under the LOC is effective from December 19, 2014 and the date of execution of Agreement is September 11, 2013. Under the LOC, the last date for opening of Letters of Credit and Disbursement will be 48 months from the scheduled completion date of contract in the case of project exports and 72 months (September 10, 2019) from the execution date of the Credit Agreement in the case of supply contracts.

3. Shipments under the LOC will have to be declared on GR / SDF Forms as per instructions issued by the Reserve Bank from time to time.

4. No agency commission is payable under the above LOC. However, if required, the exporter may use his own resources or utilize balances in his Exchange Earners’ Foreign Currency Account for payment of commission in free foreign exchange. Authorised Dealer Category- l (AD Category-l) banks may allow such remittance after realization of full payment of contract value subject to compliance with the prevailing instructions for payment of agency commission.

5. AD Category-I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain full details of the Line of Credit from the Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or log on to www.eximbankindia.in.

6. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(C. D. Srinivasan) Chief General Manager





RBI/2014-15/387 A.P. (DIR Series) Circular No. 56

January 6, 2015

To All Authorised Dealer Category - I Banks Madam /Sir Non-resident guarantee for non-fund based facilities entered between two resident entities Attention of Authorised Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No. 20 dated August 29, 2012 in terms of which non-resident guarantee for non-funded facilities such as Letters of Credit/guarantees/Letters of Undertaking (LoU) /Letter of Comfort (LoC) entered between two persons resident in India is allowed under the general permission route.

2. It is clarified that under the provisions of aforesaid Circular, residents that are subsidiaries of multinational companies can also hedge their foreign currency exposure through permissible derivative contracts executed with an AD Category – I bank in India on the strength of guarantee of its non-resident group entity. The method of discharge of liability by the non-resident guarantor under the guarantee and the subsequent repayment of the liability by the principal debtor shall continue to be governed, as hitherto, by the provisions of A.P. (DIR Series) Circular No. 28 dated March 30, 2001.

3. AD Category-I banks may bring the contents of this circular to the notice of their constituents and customers concerned.

4. The directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully

B. P. Kanungo Principal Chief General Manager





RBI/2014-15/377 A.P. (DIR Series) Circular No. 55

January 01, 2015

To All Authorised Dealer Category-I Banks Madam/ Sir

Security for External Commercial Borrowings Attention of Authorised Dealers Category-I (AD Category-I) banks is invited to Paragraphs 1 (A)(vii) and 1 (B) (vi) of Annex to A P (DIR Series) Circular No. 5 dated August 1, 2005 and A P (DIR Series) Circular No. 1 dated July 11, 2008 relating to creation of charge over securities for External Commercial Borrowings (ECB).

2. Under the extant ECB guidelines, the choice of security to be provided to the overseas lender / supplier for securing ECB is left to the borrower. With a view to liberalising, expanding the options of securities and consolidating various provisions related to creation of charge over securities for ECB at one place, it has been decided that AD Category-I banks may allow creation of charge on immovable assets, movable assets, financial securities and issue of corporate and / or personal guarantees in favour of overseas lender / security trustee, to secure the ECB to be raised / raised by the borrower, subject to satisfying themselves that: (i) the underlying ECB is in compliance with the extant ECB guidelines, (ii) there exists a security clause in the Loan Agreement requiring the ECB borrower to create charge, in favour of overseas lender / security trustee, on immovable assets / movable assets / financial securities / issuance of corporate and / or personal guarantee, and (iii) No objection certificate, wherever necessary, from the existing lenders in India has been obtained.

3. Once aforesaid stipulations are met, the AD Category-I bank may permit creation of charge on immovable assets, movable assets, financial securities and issue of corporate and / or personal guarantees, during the currency of the ECB with security co-terminating with underlying ECB, subject to the following: (a) Creation of Charge on immovable assets:

i. Such security shall be subject to provisions contained in the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000.

ii. The permission should not be construed as a permission to acquire immovable asset (property) in India, by the overseas lender / security trustee.

iii. In the event of enforcement / invocation of the charge, the immovable asset / property will have to be sold only to a person resident in India and the sale proceeds shall be repatriated to liquidate the outstanding ECB.

(b) Creation of Charge on Movable Assets In the event of enforcement / invocation of the charge, the claim of the lender, whether the lender takes over the movable asset or otherwise, will be restricted to the outstanding claim against the ECB. Encumbered movable assets may also be taken out of the country.




RBI/FEMA – CIRCULARS…..

(c) Creation of Charge over Financial Securities

i. Pledge of shares of the borrowing company held by the promoters as well as in domestic associate companies of the borrower will be permitted. Pledge on other financial securities, viz. bonds and debentures, Government Securities, Government Savings Certificates, deposit receipts of securities and units of the Unit Trust of India or of any mutual funds, standing in the name of ECB borrower/promoter, will also be permitted. ii, In addition, security interest over all current and future loan assets and all current assets including cash and cash equivalents, including Rupee accounts of the borrower with AD Category-I banks in India, standing in the name of the borrower/promoter, can be used as security for ECB. The Rupee accounts of the borrower/promoter can also be in the form of escrow arrangement or debt service reserve account. iii, In case of invocation of pledge, transfer of financial securities shall be in accordance with the extant FDI/FII policy including provisions relating to sectoral cap and pricing as applicable read with the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000.

(d) Issue of Corporate or Personal Guarantee

i, A copy of Board Resolution for the issue of corporate guarantee for the company issuing such guarantee, specifying name of the officials authorised to execute such guarantees on behalf of the company or in individual capacity should be obtained. ii, Specific requests from individuals to issue personal guarantee indicating details of the ECB should be obtained. iii, Such security shall be subject to provisions contained in the Foreign Exchange Management (Guarantees) Regulations, 2000.

4. These amendments to the ECB guidelines shall come into force with immediate effect, subject to review from time to time. All other provisions related to raising of ECB remain unchanged.

5. AD Category – I banks may bring the contents of this Circular to the notice of their constituents and customers.

6. The directions contained in the Circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and are without prejudice to permissions / approvals required, if any, under any other law.

Yours faithfully

B P Kanungo Principal Chief General Manager

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