The DGFT vide Notification No. 13/2015-2020, dated July 12, 2021 amended conditions of Chapter-48 of ITC (HS), 2017, Schedule-I (Import Policy), in order to correct the name of Bharatiya Reserve Bank Note Mudran Ltd. to read as Bharatiya Reserve Bank Note Mudran Private Ltd. and to reduce the compliance burden, in a following manner:
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Existing Policy Condition |
Revised Policy Condition |
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(1) The conditions for import of currency paper (water-mark bank note paper) are as follows: |
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(I) Import of Water-mark Bank Note Paper may be made, without an import licence, by the Note Printing Presses of the Government of India, namely, Currency Note Press, Nasik; Bank Note Press, Dewas both units of Security Printing and Minting Corporation of India Limited (SPMCIL); Bharatiya Reserve Bank Note Mudran Ltd. (BRBNMPL) units in Mysore, Salboni and Bangalore, subject to submission of a certificate of import from the Head of units and with actual user condition. |
Import of Water-mark Bank Note Paper may be made, without an import licence, by the Note Printing Presses of the Government of India, namely, Currency Note Press, Nasik; Bank Note Press, Dewas both units of Security Printing and Minting Corporation of India Limited (SPMCIL); Bharatiya Reserve Bank Note Mudran Private Ltd. (BRBNMPL) units in Mysore, Salboni and Bangalore, subject to submission of a certificate of import from the Head of units and with actual user condition |
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(II) The importer shall furnish quarterly returns of the quantity and value of the imports made by him to the Ministry of Finance for the quarters ending 30th June, 30th September, 31st December and 31st March of each financial year, within 30 days of the close of the quarter concerned. |
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The Notification can be accessed at: https://content.dgft.gov.in/Website/dgftprod/766ee5e0-1c7f-4ee1-9518-c85ad0bd3c31/Notification%2013%20dt%2012-07-21%20Eng.pdf