Government of India

Ministry of Commerce & Industry

Directorate General of Foreign Trade

Udyog Bhavan, New Delhi.

 

 

To,

 

All Regional Authorities;

Trade & Industry

 

 

This refers to the Import Authorisation which are approved for import of restricted items on re-export basis by the EFC. To ensure that goods are re-exported by the importers as declared by them at the time of application for Import Authorisations, it has been decided that Regional Authority (RA) concerned will take LUT/BG from the importers at the time of issuance of such authorization as per the following details:-

 

1.      The status holders and manufacturers with a turnover of 5 Cr and above, shall execute only a LUT for the full import value.

 

2.      Other importers, not covered by Sl.No. 1 above, shall execute LUT for the full import value along with a bank guarantee (BG) for a value of Rs. 1 lakh (one lakh Rupees).

 

3.      LUT / BG should have a minimum validity for a time period covering the re-export time plus six months.

 

4.      LUT/BG should be redeemed by RA as soon as the documentary evidence for re-export of goods is furnished by the importer.

 

This issues with the approval of Competent Authority.

 

(SHUBHRA)

Joint Director General of Foreign Trade

Tel. 011-23063249

 

(Issued from F.No.01/53/8/484/AM010/N-23/Import Cell)