Amendment of Policy conditions of Chapter-48 of ITC (HS), 2017, Schedule-I (Import Policy)
Subject: Amendment of Policy conditions of Chapter-48 of ITC (HS), 2017, Schedule-I (Import Policy).
S.O.(E): In exercise of powers conferred by Section 3 and Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the following Policy Conditions of Chapter-48 of ITC (HS) 2017, Schedule — I (Import Policy) as under :
| Existing Policy Condition | Revised
Policy Condition |
| 1(1) Import of Water-mark Bank Note Paper may be made, without an import Licence, by the Note Printing Presses o e Government of India, namely, urrency Note Press, Nasik; Bank Note Press, Dewas both units of Security Printing and Minting Corporation o ndia Limited (SPMCIL); Bharatiya Reserve Bank Note Mudran Ltd.(BRBNMPL) units in Mysore, Salboni and Bangalore, subject to submission of a certificate of import From the Head of units and with actual User condition. | Import of Water-mark Bank Note Paper may b made, without an import licence, by the Not Printing Presses of the Government of India, namely, Currency Note Press, Nasik; Bank Not Press, Dewas both units of Security Printing an
Minting Corporation of India Limite (SPMCIL); Bharatiya Reserve Bank Note Mudran Private Ltd.(BRBNMPL) units i Mysore, Salboni and Bangalore, subject to submission of a certificate of import from the Head of units and with actual user condition. |
| (Il) The importer shall furnish quarterly Returns of the quantity and value of th imports made by him to the Ministry of Finance for the quarters ending 30 June, 30th September, 31st Decembe d 31st March of each financial year, With in 30 days of the close of the quarte oncerned | -Deleted- |
Effect of the Notification: The name of BRBNMPL as appearing in Policy Condition 1(1) of
Chapter 48 of ITC HS 2017, Schedule-I (Import Policy) is corrected to read as Bharatiya Reserve Bank Note Mudran Private Ltd. Policy Condition 1(11) of Chapter-48 of ITC(HS) 2017, Schedule-I (Import Policy) is deleted as a step towards reducing compliance burden.
This issues with the approval of Minister of Commerce & Industry.
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