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4.33
An application for grant of DFRC may be made to the licensing authority concerned in the form given in Appendix-10-D alongwith the documents prescribed therein. An application for DFRC shall be filed only after realisation of export proceeds. However, in case of exports against irrevocable Letter of Credit, application may be filed after exports. The CIF value of DFRC shall be arrived at after discounting 20% from the FOB value of exports. The FOB value shall be calculated on the basis of the Bank Realisation Certificate. However in case of exports of gold/ silver/ platinum jewellery and articles thereof, the CIF value would be computed from the FOB value as per the value addition given in paragraph 4.56.1 of Handbook of Procedures (Vol.1).
4.33
An application for grant of DFRC may be made to the licensing
authority concerned in the form given in Appendix-10-D alongwith the documents
prescribed therein. An application for DFRC shall be filed only after
realisation of export proceeds. However, in case of exports against irrevocable
Letter of Credit, application may be filed after exports. The CIF value of DFRC
shall be arrived at after discounting 25% from the FOB value of exports. The FOB
value shall be calculated on the basis of the Bank Realisation Certificate.
However in case of exports of gold/ silver/ platinum jewellery and
articles thereof, the CIF value would be computed from the FOB value as per the
value addition given in paragraph 4.56.1 of the Handbook.
(Above sentence
at the end of this para has been added vide PN No.
17/2002, Dt. 05/06/2002)
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