In Foreign Exchange,
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.
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 Dealers 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.
Please bring the above to the notice of your constituents.