In Foreign Exchange,
OF IMPORT FEE
of the Authorized Dealers is invited to para
XIII of Foreign Exchange Manual (7th Edition,
1992) regarding imports without import license.
It has since been decided by the Government to rescind the
Import Fee Order, 1993, the effect of which shall be that
import fee of 6% will not now be realized from the importers
at the time of opening of letters of credit / registration
of the contracts. This decision will apply to the letters
of credit opened / contracts registered by the Authorized
Dealers after 9th June, 1994.
Please bring the above to the notice of your constituents.
Necessary amendments in the Foreign Exchange Manual (7th
Edition 1992) will be advised separately.