Circular No.ES/ 322 /2017-18 March 15, 2018
To: Members of the Council
Amendment in Chapter 2 of the Handbook of Procedure (2015-20)
DGFT has issued Public Notice No. 65/2015-20 dated 13.03.2018 informing about the deletion of the provisions as at Para 2.86 relating to Irrevocable Letter of Credit under Chapter 2 (General Provisions Regarding Exports And Imports) of Handbook of Procedures 2015-20.
Given here- below is the deleted paragraph 2.86- Irrevocable Letter of Credit under Chapter 2 of HBP 2015-20
‘’In case where applicant applies for duty credit scrip / discharge of EO against confirmed irrevocable letter of credit (or bill of exchange which is unconditionally Avalised / Co-Accepted / Guaranteed by a bank) and this is confirmed and certified by exporter’s bank in relevant Bank Certificate of Export and Realization, payment of export proceeds shall be deemed to have been realized. For Status Holders, irrevocable letter of credit would suffice.’’
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