Mid - Sea Trans-shipment of catch by Deep Sea Fishing Vessel - RBI - Reserve Bank of India
Mid - Sea Trans-shipment of catch by Deep Sea Fishing Vessel
RBI/2011-12/267 November 21, 2011 To All Category-I Authorised Dealer Banks Madam / Sir, Mid – Sea Trans-shipment of catch by Deep Sea Fishing Vessel Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Regulation 3 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 notified vide Notification No. FEMA 23/2000-RB dated May 3, 2000 as amended from time to time, indicating that exporter of goods or software in physical form or through any other form either directly or indirectly, shall furnish to the specified authority, a declaration in specified form and supported by specified evidence, containing true and correct material particulars representing the full export value of the goods and affirming that the full export value of goods will be realized and repatriated within the specified period and manner. 2. In terms of the Comprehensive Marine Fishing Policy, the Ministry of Agriculture, Government of India, issues Letter of Permission (LOP) to wholly owned Indian Enterprises for acquisition of resource-specific fishing Vessels and regulates the operation of these Vessels. Since deep sea fishing involves continuous sailing outside the territorial limit, trans-shipment of catches takes place in the high sea leading to procedural constraints in regulatory reporting requirement viz. the Declaration of Export in terms of Notification No.FEMA.23/2000/RB dated May 3, 2000. 3. With a view to rationalize the procedures, it has been decided in consultation with the Government of India that for mid-sea trans-shipment of catches by Indian owned vessels, as per the norms prescribed by the Ministry of Agriculture, Government of India, the GR declaration procedure as outlined in the Annex-I should be followed by the exporter in conformity with Regulation 3 of Notification No.FEMA.23/2000-RB dated May 3, 2000. 4. An updated list of International Marine Cargo Surveyors is also enclosed as Annex -II 5. It may please be noted that the earlier instructions issued in this regard vide AD (MA Series) Circular No. 15 dated May 31, 1993 stand superceded. 6. All other provisions under FEMA, as applicable for exports, would be applicable, mutatis mutandis, for catches exported at mid sea trans-shipment by the deep sea fishing Vessels. 7. AD Category –I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 8. The directions contained in this circular have been issued under Sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and is without prejudice to permissions / approvals, if any, required under any other law. Yours faithfully, (Rashmi Fauzdar) GR Declaration Procedure for (i). The exporters may submit the GR form, duly signed by the Master of the Vessel in lieu of Custom Certification, indicating the composition of the catch, quantity, export value, date of transfer of catch, etc. (ii). The date of transfer of catch may be indicated in the column for ‘Date of Shipment’ with suitable remarks. (iii). In SDF form, Bill of Lading No. and date shall be mentioned in lieu of the Shipping Bill No. and date. (iv). Bill of Lading / Receipt of Transshipment issued by the carrier vessel should include the GR Form Number. (v). The GR Forms should be duly supported by a certificate from an international cargo surveyor. (vi). The prescribed period of realization and repatriation should be reckoned with reference to the date of transfer of catch as certified by the Master of the Vessel or the date of the invoice, whichever is earlier. (vii). The GR Form, both original and duplicate, should indicate the number and date of Letter of Permit issued by Ministry of Agriculture for operation of the vessel. (viii). The exporter will complete the GR Form in duplicate and both the copies may be submitted to the Customs at the registered port of the vessel or any other port as approved by Ministry of Agriculture. GR (Original) will be retained by the Customs for capturing of data in Customs’ Electronic Data Interchange. (ix). Customs will give their running serial number on both the copies of GR Form and will return the duplicate copy to the exporter as the value certification of the export has already been done as mentioned above. (x). Rules, Regulations and Directions issued in respect of the procedure for submission of the GR form by exporter to the AD Category-I banks, and the disposal of these forms by these banks will be same as applicable to the other exporters. List of International Marine Cargo Surveyors KOREA
TOKYO
KUALA LUMPUR
BANGKOK
PHILIPPINES
OTHERS
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