Five percent Weight Variation in Cotton Yarn Exports Allowed
[DGFT Policy Circular No. 38 dated 10th August 2011]
Subject: Conditions and modalities for registration of contracts of cotton yarn with DGFT- relaxation of – 5% by weight in export of cotton yarn.
Through Policy Circular No. 27 (RE-2010)/2009-14 Dated the 1st April, 2011, conditions and modalities for registration of contracts of cotton yarn with the Regional Authorities of DGFT were notified.
2. This office has received representations from Trade Bodies seeking exemption from penalty and placing in defaulters list in case of variation in export weight due to various reasons.
3. It has been decided that a variation of – 5% in weight against Registration Certificates issued for export of cotton yarn shall be allowed. Thus a variation of – 5% in weight in exports of cotton yarn against registered contracts shall not be treated as default for the purpose of imposition of penalty or debarment from future registrations.
4. This issues with the approval of Director General of Foreign Trade.