Indian govt notifies procedure for cotton RCs scrutiny

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The Director General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, Government of India, has notified the procedure/guidelines for scrutiny and revalidation of Registration Certificates (RCs) for export of cotton.

While partially lifting the cotton export ban on March 12 this year, the Government had announced that the Ministry of Commerce would issue a notification mentioning these procedures for further exports of cotton.

The notification states that the applications for scrutiny and revalidation should be submitted only for the RCs that were valid as on March 5, 2012.

Cotton exporters need to submit their applications to the concerned RA from where the existing RC was obtained, on or before March 22, 2012.

A separate application needs to be made for each valid RC. The application should indicate the volume of cotton already exported against that RC, along with other details like the date of export, details of importer, invoice amount, etc.

The notification says that the scrutiny of the RCs would be undertaken by the DGFT head office in New Delhi. After completion of the scrutiny, the RCs would be revalidated by respective RAs, as per DGFT’s instructions.

Click here to view the DGFT notification.

Source: http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=109131

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