[TO BE PUBLISHED IN GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 6th June, 2007
Notification No. 26/2007 - Central Excise
G.S.R. 418 (E).- In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of Additional Duties of Excise (Textile and Textile Articles) Act, 1978 (40 of 1978), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, the Ministry of Finance (Department of Revenue), No. 22/2003- Central Excise, dated the 31st March, 2003, G.S.R. 265 (E), dated the 31st March, 2003, namely:-
In the said notification,
(1) in paragraph 8, after clause (iii), the following proviso shall be inserted, namely:-
“Provided that in a case of exit by a user industry where positive NFE criteria is fulfilled in terms of Para 6.18 (g) of Foreign Trade Policy, such clearance or debonding of goods shall be allowed under Advance Authorization as one time option on payment of applicable duty.”
(2) after paragraph 13, in the Explanation, after Sr. No. (x) and entries relating thereto, the following serial number and entry shall be inserted, namely:-
“(xi) “NFE” means Net Foreign Exchange Earnings in terms of Para 6.5 of Foreign Trade Policy and Para 6.10.1 of Handbook of Procedure, volume 1 and shall be calculated in the manner explained in Annexure-I to Appendix 14-I-G of Handbook of Procedure, volume 1.”
(F.No: DGEP/FTP/69/2007-EOU & G&J)
Under secretary to the Government of India
The principal notification No. 22/2003-Central Excise, dated the 31st March, 2003 was published in the Gazette of India Extraordinary, Part II, Section 3 (i) vide G.S.R 265 (E), dated the 31st March, 2003 and last amended by notification No. 1/2007-Central Excise, dated the 15th January, 2007 published vide G.S.R. 26 (E), dated the 15th January, 2007.
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