MANU/DGFT/0055/2022

Ministry : Ministry of Commerce and Industry

Department/Board : DGFT

Trade Notice No. : 01/2022-2023

Date : 11.04.2022

Notification/ Circulars Referred : Trade Notice No. 42 dated 11.01.2019 MANU/DGFT/0014/2019;Trade Notice No. 03 dated 03.04.2019 MANU/DGFT/0053/2019;Trade Notice No. 26 dated 26.11.2021 MANU/DGFT/0167/2021

Citing Reference:
Trade Notice No. 42 dated 11.01.2019 MANU/DGFT/0014/2019  Referred

Trade Notice No. 03 dated 03.04.2019 MANU/DGFT/0053/2019  Referred

Trade Notice No. 26 dated 26.11.2021 MANU/DGFT/0167/2021  Referred

All IEC Holders
Regional Authorities (RAs) of DGFT
Export Promotion Councils/Commodity Boards

Re-operationalisation of Scrip Transfer Recording Module

1. Consequent to receiving certain information from exporters that certain fraudulent scrip transfers have taken place, the Online scrip transfer recording module was suspended. Thereafter, based on inputs/discussions with Department of Revenue and in the interest of trade facilitation it has now been decided to re-operationalise the IT module which was put in place through Trade Notice No. 42 dated 11.01.2019 and Trade Notice No. 03 dated 03.04.2019 with additional features/limitations.

2. The additional features which have been added in the Scrip Transfer Recording Module are -

a. Introduction of time-lag for transfer of scrip from the original scrip owner to the next transferee, i.e. the original owner of the scrip (A) will not be able to transfer the scrip to another entity (B) on an immediate basis and will be able to do that after 'n' number of days from the scrip issue date;

b. Introduction of time-lag for scrip transfer from one entity to another, i.e. the next scrip transfer from entity B to entity C can take place after Y number of hours of the last transfer;

c. Introduction of time-lag for transfer of scrip subsequent to IEC Modifica........