All
Authorised Dealers
In Foreign Exchange,
Dear
Sirs,
EXPORT
OF HAND KNOTTED CARPETS
-
Attention
of Authorised Dealers in invited to the instructions
contained in para
6 (a) Chapter
XII of the Foreign Exchange Manual (1992 Edition)
in terms whereof Authorised Dealers are permitted to
certify Form
'E' for export of carpets on 270 days' basis if
term of sale/irrevocable letter of credit provides for
payment on 270 days' usance. It has been decided that
henceforth Authorised Dealers may certify Form
'E' for export of "Hand Knotted Carpets"
for a tenure of upto 180 days' usance provided the export
proceeds is repatriated within a period of 195 days.
-
Consequently,
following amendments in the said para may be made:-
-
The
words and figure appearing in the 10th
line "270 days' usance in case of carpet"
shall be substituted by words "180 days' usance
in case of Hand Knotted Carpets".
-
The
figure "285" appearing in the 12th
line be substituted by figure "195".
