DGFT amends Chapter 2 of the Handbook of Procedure (2015-20)

Mar 14, 2018 | by Avantis RegTech Legal Research Team

Directorate General of Foreign Trade (DGFT) vide public notice dated March 13, 2018 has issued amendment to the Chapter 2 of the Handbook of Procedure (2015-20). Vide tis amendment-

Provisions as at Para 2.86 of the Handbook of Procedure (2015-20) which relates to- ‘Irrevocable Letter of Credit’- In case where applicant applies for duty credit scrip / discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is 60 unconditionally Avalised / Co-Accepted / Guaranteed by a bank) and this is confirmed and certified by exporter’s bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized. For Status Holders, irrevocable letter of credit would suffice shall be deleted.

[Public Notice No. 65/ (2015-2020)]

URL: http://dgft.gov.in/Exim/2000/PN/PN17/PN%2065%20eng.pdf


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