Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 59
August 01, 1994 

All Authorized Dealers
In Foreign Exchange,

Dear Sirs,


Attention of the Authorized Dealers is invited to F.E. Circular No.49 dated the 14th June, 1994, dispensing with the requirement of recovery of 6% import fee from the importers. In view of the above position, it will no longer be necessary for the Authorized Dealers to submit statement as per Annexure 'A' to F.E. Circular No. 31 of 1991. Authorized Dealers will also not henceforward be required to issue certificates in the form prescribed vide Annexure 'B' to F.E. Circular No. 31 of 1991.

2. Under the new import policy announced by the Government, Authorized Dealers have been given powers to condone certain contravention's of the Import Policy Order on recovery of penal surcharge. In such cases, clearance of goods will be subject to production of Authorized Dealer’s confirmation about recovery of the penal surcharge in the format attached with this F.E. Circular as Annexure 'A'. While issuing this Annexure, Authorized Dealers will invariably attach to it an authenticated Photostat copy of the paid challan evidencing deposit of the amount of penal surcharge in the appropriate Government account.

3. Please bring the above to the notice of your constituents.

Encl: As above.

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