10 February 2020

Notifications & Circulars

Ministry of Finance 



Valuation of second hand machinery


1. Representations have been received from the trade regarding Circular No. 25/2015-Customs dated 15th October, 2015 on valuation of second hand machinery. For this purpose, the circular requires customs to rely upon inspection report either issued at the port of loading by overseas Chartered Engineer or issued upon import by a pre-shipment inspection agency (PSIA) notified by DGFT, or by a chartered engineer empanelled by the Custom House where the DGFT approved PSIAs are not available.

2. It has been represented that the PSIAs empanelled by DGFT are insufficient in number leading to delay in clearances. It has also been informed that PSIAs empanelled by DGFT are not qualified for appraising second hand machinery.

3. In this regard, DGFT vide O.M. No. 01/93/180/51/AM-16/PC II(B)/E-1500/176 dated 3rd September 2019, has clarified that PSIAs are meant only for certifying that consignments of metal scrap are free of radio-active agents and explosives. The PSIAs are not required to be qualified as engineers. Also, ascertaining the age of a second hand machine is an engineering exercise and can be performed only by a qualified engineer. Thus, certifying the age of machines is beyond the jurisdiction of PSIAs.

4. The following guidelines shall be followed:

(a) All imports of second hand machinery/used capital goods shall be ordinarily accompanied by an inspection/appraisement report issued by an overseas Chartered Engineer or equivalent, prepared upon examination of the goods at the place of sale.

(b) The report of the overseas chartered engineer or equivalent should be as per the Form A annexed to this circular.

(c) In the event of the importer failing to procure an overseas report of inspection/appraisement of the goods, he may have the goods inspected by any one of the Chartered Engineers empanelled locally by the respective Custom Houses.

(d) In cases where the report is to be prepared by the Chartered Engineers empanelled by Custom Houses, the same shall be in the Form B annexed to this circular.

(e) The value declared by the importer shall be examined with respect to the report of the Chartered Engineer. Similarly, the declared value shall be examined with respect to the depreciated value of the goods determined in terms of the circular No. 493/124/86-Cus VI dated 19/11/1987 and dated 4/1/1988. If such comparison does not create any doubt regarding the declared value of the goods, the same may be appraised under rule 3 of the CVR, 2007. If there are significant differences arising from such comparison, Rule 12 of the CVR, 2007 requires that the proper officer shall seek an explanation from the importer justifying the declared value. The proper officer may then evaluate the evidence put forth by the importer and after giving due consideration to factors such as depreciation, refurbishment or reconditioning (if any), and condition of the goods, determine whether the declared transaction value conforms to Rule 3 of CVR, 2007. Otherwise, the proper officer may proceed to determine the value of the goods, sequentially, in terms of rule 4 to 9.

5. Circular No. 25/2015 dated 15th October, 2015 stands superseded with the issue of this circular.

Tags : Valuation Second hand Machinery

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Ministry of Finance 



Streamlining export data to include District level details in Shipping Bills


1. Reference is invited to Notification No. 33/2019-Cus (NT) dated 25.04.2019 vide which the Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations 2019 were notified. Regulation 3 of the said regulations states that, the authorised person shall enter the electronic integrated declaration and upload the supporting documents on the ICEGATE either by affixing his digital signature or by availing the services at the service centre. The electronic integrated declaration is to be made in the electronic form provided at the website https://www.icegate.gov.in.

2. In this regard, as is the endeavor of the Government of India to boost domestic manufacturing and promote exports, Board has decided to incorporate additional attributes in the Shipping Bill to enable the Customs System to capture the Districts and States of Origin for goods being exported. The initiative is also aimed at bringing uniformity with the data/information captured in the Goods and Services Tax Network (GSTN).

3. Accordingly, with effect from 15.02.2020, apart from the data/information required to be furnished in the present electronic form of electronic integrated declaration mentioned in Regulation 3 of Shipping Bill (Electronic Integrated Declaration and Paperless Processing) Regulations 2019, the following additional information will be required to be furnished for every item in the Shipping Bill:-

(i) The State of Origin of goods.

(ii) District of Origin of goods.

(iii) Details of Preferential Agreements under which the goods are being exported, wherever applicable.

(iv) Standard Unit Quantity Code (SQC) for that CTH as per the first schedule of the Customs Tariff Act, 1975.

4. Further, certain cases have been reported where the importer or exporter did not declare their GSTIN in the Bill of Entry/Shipping Bill despite being registered with GSTN. With effect from 15.02.2020, the declaration of GSTIN shall also be mandatory in import/export documents for the importers and exporters registered as GST taxpayers.

5. DG (Systems) would be issuing a detailed advisory giving further details of the fields in the Shipping Bill where the above information will have to be provided. Suitable Trade Notice/Standing order may please be issued to guide the trade and industry. Difficulty, if any, faced in implementation may be brought to the notice of Board immediately.

Tags : Export data Inclusion District level details

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Securities and Exchange Board of India


Capital Market

Performance review of the commodity derivatives contracts


1. The primary objective of the commodity derivatives market is to provide credible future price signals to market participants and an effective platform for hedging the price risks. In order to ensure that the derivatives contracts are closely aligned to the physical markets, it is imperative to have a framework to evaluate the performance of these contracts based not merely on statistics regarding delivery and trade volumes but also on the strength of a comprehensive empirical assessment after considering all relevant information, pertaining to the performance of a derivative contract during the relevant period of time.

2. Keeping the above in view and in consultation with the Commodity Derivatives Advisory Committee (CDAC), the following has been decided:

2.1. All recognized stock exchanges shall review the performance of all contracts traded on their exchanges, in commodity derivatives segment, as per the parameters laid down in the Circular.

2.2. The said performance review shall be consulted with the Product Advisory Committee (PAC) constituted in terms of SEBI Circular no. SEBI/HO/CDMRD/DNPMP/CIR/P/2019/89 dated August 07, 2019 on the subject of "Product Advisory Committee".

2.3. The said performance review along with the methodology adopted in evaluation, if any, shall be disclosed by the stock exchanges on their website prominently.

2.4. The said performance review shall be conducted on an annual basis for each financial year and shall be disclosed by 30th June of the following financial year.

3. The performance review of the commodity derivatives contracts shall be based on various parameters for each commodity as illustrated in Annexure-I.

4. This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

5. The Circular would be effective from April 01, 2020. The stock exchanges shall be required to undertake and disclose performance review of all contracts traded on their exchange from FY 2019-20.

6. Exchanges are advised to:

i. to make necessary amendments to the relevant bye-laws, rules and regulations.

ii. bring the provisions of this circular to the notice of the stock brokers of the Exchange and also to disseminate the same on their website.

iii. communicate to SEBI, the status of the implementation of the provisions of this circular.

Tags : Review Commodity derivatives Contracts

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Ministry of Commerce and Industry



One-time permission for resubmission of applications for claiming assistance under 'Transport and Marketing Assistance for Specified Agriculture Products Scheme


1. With reference to the subject mentioned above, attention is invited to sub-paras (e) and (f) of para 7(A). 01 of "Handbook of Procedures" notified vide Public Notice No. 82/2015-2020 dated 29.3.2019 whereby all claims for shipments made in a particular quarter are required to be bunched together and submitted as a single application. Incomplete or deficient applications shall result in non-acceptance by DGFT and are rejected.

2. DGFT has received several representations stating that due to various reasons, some applicants could not file correct claims and hence they should be allowed to correct such deficient applications.

3. The issue has been examined in the Directorate. Keeping in view that the scheme is new, it has been decided to allow one-time relaxation for modifying already filed deficient/incomplete applications.

4. All the applicants, who wish to modify their such applications, should provide information in the above mentioned google form latest by 20.02.2020 upto 5:00 p.m. No further request for modification of already submitted applications would be entertained after 20.02.2020. These applications would remain open for edit upto 29.02.2020. Using ECOM reference detail generated at the time of submission of original application, the applicants can edit the information pertaining to such applications and resubmit the same online by 29.02.2020.

5. A printout of the modified application along with a self-certified copy of the requisite documents should be submitted to the concerned RA upto 16th March, 2020.

6. The facility of resubmission is available only for those applications which are pending for disbursement. No supplementary application/enhancement in the claim can be made where the payment has already been made.

Tags : Permission Re-submission Applications

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Press Information Bureau



Joint Committee on the Personal Data Protection Bill, 2019 seeks views and suggestions


The Personal Data Protection Bill, 2019 as introduced in Lok Sabha has been referred to a Joint Parliamentary Committee of both the Houses, under the Chairperson of Smt. Meenakshi Lekhi (New Delhi) M.P. for examination and Report.

It has been decided to seek views and suggestions on the Bill from individuals and associations/bodies concerned. The Personal Data Protection Bill, 2019 has been uploaded on Lok Sabha Website (loksabha.nic.in>legislations>bills introduced>Bill No. 373).

Those desirous of submitting their views/suggestions to the Committee may send two copies of their written Memoranda/suggestions either in English or Hindi on the subject to the Director, Lok Sabha Secretariat, Room No. 152, Parliament House Annexe, New Delhi-110001 or email at jpc-datalaw@sansad.nic.in and at mrs.mlekhi@sansad.nic.in within three weeks from the date of publication.

The Memoranda submitted to the Committee would form part of the records of the Committee and would be treated as Confidential and would enjoy privilege of the Committee. Those who wish to appear before the Committee, besides submitting Memoranda, are also requested to specifically indicate so. However, the Chairperson's decision in this regard shall be final.

Tags : Joint Committee Bill Suggestions

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Press Information Bureau



Strategy for Export of Defence Products under 'Make In India' Programme


Various strategies have been firmed up and reforms introduced to enhance Defence exports. These measures are listed below:

Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) Category 6 titled " Munitions List" that was hitherto "Reserved" has been populated and Military Stores list notified vide Notification No.115(RE-2013)/2009-2014 dated 13th March 2015 stands rescinded.

The Director General of Foreign Trade (DGFT) vide Public Notice No. 4/2015-20 dated 24th April, 2017, notified Department of Defence Production (DDP) as the Licensing Authority for export items in Category 6 of SCOMET. The export of items specified in Category 6 (Munitions List) except those covered under Notes 2 & 3 of Commodity Identification Note (CIN) of the SCOMET is now governed by the Standard Operating Procedure issued by the Department of Defence Production (DDP), Ministry of Defence.

Standard Operating Procedure (SOP) for the export of munitions list items has been simplified and placed on the website of the DDP.

A completely end-to-end online portal for receiving and processing authorisation permission has been developed. The applications submitted on this portal are digitally signed and the authorization issued is also digitally signed.

The Government has notified the Open General Export License (OGEL)- a onetime export license, which permits the industry to export specified items to specified destinations, enumerated in the OGEL, without seeking export authorization during the validity of the OGEL.

Scheme for Promotion of Defence Exports has been notified to provide an opportunity to the prospective exporters an option to get their product certified by the Government and provides access to the testing infrastructure of Ministry of Defence for initial validation of the product and its subsequent field trials. The certificate can be produced by the prospective exporter for marketing their products suitably in the global market.

A separate Cell has been formed in the Department of Defence Production to co-ordinate and follow up on export related action including enquiries received from various countries and facilitate private sector and public sector companies for export promotion.

A Scheme to provide financial support to Defence Attaches for taking up actions for promoting exports of Indian made defence products both of public and private sector in the countries to which they are attached has been notified. Targets have been set for the Defence Public Sector Undertakings and OFB for export of Defence products.

Tags : Export Defence Products Strategy

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