Foreign Commission in Computation of MEP on Basmati Rice Withdrawn

[DGFT Notification No. 21 dated 14^th December 2009]

Subject: Export of Rice – MEP and conditions regarding

In exercise of the powers conferred by Section 5 read with Section 3(2) of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) and also read with Para 1.3 and Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes, with immediate effect, the following amendment to Notification No.38 (RE-2007)/2004-2009, dated 15.10.2007 read with Notification No. 93 (RE-2007)/2004-2009 dated 1.4.2008, Notification No. 83 (RE-2008)/2004-2009 dated 27.01.2009, and Notification No. 5/2009-2014 dated 7.09.2009, as amended from time to time.

2. Para 3 of Notification No. 5/2009-2014 dated 7.09.2009 relating to condition regarding foreign commission for computation of MEP shall stand withdrawn and substituted as under:

“In case any foreign commission is paid at the time of exports or subsequently then MEP shall be higher than US $ 900 per ton, to the extent of foreign commission paid / payable and MEP of US $ 900 per ton shall be maintained, exclusive of the foreign commission.”

3. This issues in Public Interest.