Wheat Export Ban

· Message Exchange date between the Indian and Foreign Bank / Swift Date should also be on or prior to 13.5.2022, Observes DGFT, says Fraudulent Back Dated Letter of Credit (LC) Showing Date of Issuance, as on or Prior to 13.5.2022

[DGFT Trade Notice No. 09/2022-2023 dated 23 May 2022]

Subject: Implementation of Notification No.06/2015-2020 dated 13^th May, 2022- Prohibition on export of wheat.

Reference is invited to Notification No.06/2015-2020 dated 13^th May, 2022 amending the export policy of wheat under S.No.59 of Chapter 10 of Schedule - 2 of the ITC (HS) Export Policy from 'Free' to 'Prohibited' with immediate effect read with Trade Notice No.06/2022-2023 dated 14th May, 2022, Trade Notice No.07/2022-2023 dated 17th May, 2022 and Trade Notice No.08/2022-2023 dated 17th May, 2022.

2. In this regard, information has been received from sources that fraudulent back dated Letter of Credit (LIC) showing date of issuance, as on or prior to 13.5.2022, are being submitted by some unscrupulous exporters for issue of RCs, but as per the L/C, message exchange date between Foreign and the Indian bank / Swift message is after 13.05.2022.

3. The said matter has been considered and it is clarified that for registration of L/C with the RAs of DGFT, apart from the L/C date, the message exchange date between the Indian and foreign bank / Swift date should also be on or prior to 13.5.2022.

This issues with the approval of competent authority.

(Issued from F.No. 01/91/180/032/AM22/EC/Pt./E-31336)