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OFFICE
OF THE COMMISSIONER OF CUSTOMS, |
PUBLIC
NOTICE NO. 150 /2001
Subject: Deemed Export benefits for (i) Vindhyachal STPP Stage – II in Madhya Pradesh and (ii) Kayamkulam CCPP in Kerala, subsequent to closure of World Bank loan in March, 1999.
Government
of India, Ministry of Commerce and Industry, Department of Commerce, New Delhi,
Public Notice No.18 (RE-2001)/1997-2002 vide F.NO.01/92/ 180/
46/ AM00/PC.II dated 07.06.2001, is reproduced below for the guidance of the
importers, clearing agents and trading staff.
S58/43/2001-AP (PORT) (S. SANKARAVADIVELU)
CUSTOM HOUSE, CHENNAI-1. DY. COMMR. OF CUSTOMS (APPG)
DATE : 16.07.2001
______________________________________________________________________
Public Notice No. 18
(RE-2001)/1997-2002
F.NO.01/92/180/46/AM00/PC.II
dated 07.06.2001
In
exercise of the powers conferred under Paragraph 4.11 of the Export and Import
Policy, 1997-2002, as notified in the Gazette of India Extraordinary, Part II,
Section 3, Sub-Section (ii) vide S.O. No. 283(E) dated 31.3.1997, the Director
General of Foreign Trade hereby makes the following amendments –
2. As per Paragraph 10.2(d) of the EXIM Policy, 1997-2002 read
with Appendix 40 of Hand Book of Procedures, Vol. 1, 1997-2002, supply of goods
to projects financed by World Bank (IBRD & IDA) are entitled for deemed
export benefits as given under Paragraph 10.3 of EXIM Policy.
3. (i) Vindhyachal Super Thermal Power Project (STPP) Stage – II
in Madhya Pradesh; and (ii) Kayamkulam Combined Cycle Power Project (CCPP) in
Kerala are likely to be financed by further World Bank (IBRD & IDA) loans.
The matter of extending deemed export benefits for supply of goods to the above
stated projects has been considered in consultation with Ministry of Finance. It has been decided
that deemed export benefits as given under Paragraph 10.3 of the EXIM Policy
shall be available for supplies of goods to the above stated projects, as if
these projects are financed by World Bank (IBRD & IDA).
4. In case the bids are invited under the World Bank Procedures
and the World Bank loan fails to come through, for any reason, the deemed
export benefits would be available as if the supplies have been effected under
Paragraph 10.2(d) of the EXIM Policy. However, in case further World Bank loan
is not available to NTPC, for any reasons, then in respect of supplies made
from 1.4.1999 (effective date of closure of World Bank loan) to 31.3.2000,
National Thermal Power Corporation Ltd. (NTPC) would reimburse to the
Government of India the cash equivalent of the
two benefits i.e. benefit of (i) Special Imprest Licence/Advance
Intermediate Licence and (ii) deemed export drawback scheme availed by the suppliers for the above
stated projects under Paragraph 10.3(a) and (b) of the Exim Policy, 1997-2002. In respect of supplies made after 1.4.2000,
in the eventuality of World Bank funding not being available, for any reason,
NTPC would reimburse the cash equivalent of
deemed export benefit of Refund of Terminal Excise Duty, availed by the
suppliers under Para 10.3 (c) of the
Exim Policy 1997-2002, for the above stated projects.
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