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Indian govt amends RC procedure for cotton, yarn exports
04
Jan '14
The Director General of Foreign Trade (DGFT), Ministry of Commerce and Industry, Government of India has amended the procedure for issue of Registration Certificates (RCs) for export of various commodities, including cotton and cotton yarn.
 
Notification No. 63 (RE-2013)/2009-14, issued by the DGFT, reads, “With immediate effect, the requirement of submission of hard copies of the documents viz. printout of online application, Letter of Credit [L/C] or Foreign Inward Remittance Certificate [FIRC] or proof of Advance Payment, as applicable and export contract is dispensed with.”
 
Earlier, with effect from July 1, 2013, after filing online applications, exporters were mandatorily required to furnish printout of the application submitted online along with hard copies of Letter of Credit [L/C] or Foreign Inward Remittance Certificate [FIRC] or copy of proof of Advance Payment, as applicable and export contract.
 
The DGFT notification made it clear that there shall be no other change in either the policy or conditions for export of cotton, cotton yarn, etc. notified earlier through respective Notifications, Public Notices, Policy Circulars, etc.
 
In effect, the latest notification discards the requirement of submitting any document in electronic filing for obtaining Registration Certificates.
 

Fibre2fashion News Desk - India

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