The DGFT vide Public Notice No. 15/2015-20 dated June 14, 2022 issued amendments in Public Notice 10/2015-20 dated May 24, 2022 in order to notified additional provisions for allocation of Tariff Rate Quota (“TRQ”) for 20 Lakh MT of Crude Soya bean oil and 20 Lakh MTs of Crude Sunflower oil for Financial Year (“FY”) 2022-23 and 2023-24.
In exercise of the powers conferred under Para 1.03 and 2.04 of the Foreign Trade Policy, 2015 2020, as amended from time to time, the Director General of Foreign Trade hereby amends Para 2 of Public Notice No. 10/2015-20 dated May 24, 2022 as under:
Para 2 (iii) is revised to read as follows:
For each processing unit, applicants shall provide a self-certified copy of documentary proof issued by Central/State Authorities, indicating its processing capacity. The certificate should be dated prior to May 24, 2022. The process capacity for Edible oils should be mentioned in the said certificate.
The following provisions are inserted after Sl. No. (vi) under para 2 –
vii. Details of turnover for processing of Crude Edible Oils in the last three financial years, i.e., from 2019-20 to 2021-22, are to be submitted. Self-certified GST Returns shall be provided by the applicants.
viii. Imports made under TRQ are for domestic processing and consumption only. No part of the said TRQ Imports can be exported before or after processing.
ix. The TRQS issued for financial year 2022-23 shall be valid for clearance of import for a period of one year or till June 30, 2023, whichever is earlier. TRQS issued for FY 2023-24 shall be valid for clearance of imports till March 31, 2024
x. Import consignments landing at Indian Ports after the date of issuance of TRQ licence shall only be considered for clearance under TRQ. Any quantities lying at the Indian ports (under warehousing etc) before the date of issuance of the TRQ license shall not be considered for import clearance under TRQ.
xi The un-utilized quantities i.e., quantities not imported by the TRQ Licencees by the end of the current import period, shall be deducted from their proposed allocations (in case allocation is considered) during the next TRQ period, i.e., 2023-24.
All other conditions as mandated under Public Notice No. 10/2015-20 dated May 24, 2022 remain applicable.
Effect of Public Notice: Changes are made in Public Notice 10/2015-20 dated May 24, 2022 for notifying additional provisions for allocation of Tariff Rate Quota (TRQ) for 20 Lakh MT of Crude Soya bean oil and 20 Lakh MTs of Crude Sunflower oil for FY 2022-23 and 2023-24.
The Public Notice can be accessed at: https://content.dgft.gov.in/Website/dgftprod/f06bff34-a306-4962-9272-d4d5ebfcff4c/PN%2015%20dt%2014-06-22%20Eng.pdf
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D