The Hindu Business Line : Validity of duty-free licences on rubber import extended

THE Director General of Foreign Trade (DGFT) has extended the validity of certain duty-free licences that had been issued for import of natural rubber.

A circular issued by DGFT said that duty free licences issued on or after February 20, 1999 and revalidated up to December 31, 2003 would now be valid up to March 31, 2004.

This follows representation received from the tyre industry for the extension of the time period beyond December 31, 2003 for effecting import of natural rubber against such licences.

The advanced licence route for import of natural rubber was restored in July this year— nearly two months after the Supreme Court verdict.

The DGFT had in October this year advised all licensing authorities to allow direct import of rubber against the licences issued on or after February 20, 1999, for which imports had not been undertaken. It had also directed the revalidation of those licences that had expired to December 31, 2003.

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Validity of duty-free licences on rubber import extended