| therein.
Copies of these notifications are given in Volume II of the Manual.
In terms of these notifications, the requirement of declaration does
not, inter alia, apply to goods despatched by air freight or post parcel
provided the packet is accompanied by a declaration by the sender that
the value of the goods is not more than Rs.10,000 and that the export
does not involve any transaction in foreign exchange. Reserve Bank,
by its Order No. EC.CO.COX.126/5/Policy/93 dated 5th March 1993, has
granted general permission to airline companies/air taxi operators to
despatch aircraft engines and spare parts out of India for overhauling/repairs
and their subsequent return to India, free of payment, without furnishing
a declaration on GR / PP form. [Please also see paragraph 6F.3 regarding
replacement of goods] |