Executive Summary:
This notification announces an additional quota of 2 lakh MT for the import of Rough Marble and Travertine Blocks for authorization holders under Trade Notice No. 12/2014 dated 08/01/2015. It allows for the revalidation of import authorizations with a 25% increase in import quantity, valid until September 30, 2016, as an interim measure. Authorization holders must apply for revalidation and amendment by July 15, 2016.
Key Points / Main Content:
* **Additional Import Quota:**
* An additional quota of 2 lakh MT is granted for importing Rough Marble and Travertine Blocks.
* This quota is applicable to authorization holders under Trade Notice No. 12/2014, dated 08/01/2015.
* **Revalidation of Import Authorizations:**
* Import authorizations issued under Trade Notice No. 12/2014 can be revalidated until September 30, 2016.
* The revalidation includes a 25% increase in the import quantity for each authorization.
* The terms and conditions of the original authorization remain unchanged.
* **Application for Revalidation and Amendment:**
* Authorization holders must apply to the concerned Regional Authority of DGFT by July 15, 2016.
* Applications should be made using Appendix 4D and include the prescribed fees.
* **Processing of Applications:**
* The Regional Authority will amend the import authorization, increasing the import quantity by 25% within ten days of receiving the application.
* The revalidated authorization will be valid until September 30, 2016.
* **Validity of Import Authorizations:**
* The validity of import authorizations with the additional quota will not extend beyond September 30, 2016.
* **Effect of the Notification:**
* The additional quota of 25% is provided as an interim measure for imports to be completed by September 30, 2016, supplementing the previous year's quota.
Impact Analysis:
**Import Authorization Holders:**
* Impact: Can import 25% more Rough Marble and Travertine Blocks based on their existing authorization.
* Action Required: Apply for revalidation and amendment of their import authorization by July 15, 2016, to the relevant Regional Authority of DGFT, using Appendix 4D and paying the required fees.
Key Entities Referenced
Foreign Trade Policy, 2015-2020: A policy document related to foreign trade, referenced in the context of powers conferred to the Director General of Foreign Trade.
FTDR Act, 1992: Foreign Trade (Development and Regulation) Act, 1992. An act of parliament by which powers are conferred to the Director General of Foreign Trade.
Directorate General of Foreign Trade: A government organization responsible for foreign trade regulation and promotion.
Trade Notice No. 12/2014: A trade notice dated 08/01/2015, which serves as the basis for import authorizations related to Rough Marble and Travertine Blocks.
Rough Marble and Travertine Blocks: Commodities whose import is regulated by the policy, specifically mentioned in the context of additional quota and import authorizations.
Ajay Kumar Bhalla: The Director General of Foreign Trade who issued the notification.
New Delhi, Delhi: The city where the notification was issued.
30th September 2016: The deadline for import authorization revalidation and for utilizing the additional quota.