Home Fashion TEXPROCIL Welcomes Abolition of RCs for Cotton Yarn

TEXPROCIL Welcomes Abolition of RCs for Cotton Yarn

By  
SHARE

The Government has abolished the requirement of Registration Certificates vide DGFT Notification No. 103/2009-14 dated 8th December 2014.

, Chairman,  ( TEXPROCIL) said, “This is a proactive and progressive step which will reduce transaction costs for the exporters of Cotton Yarn .”

Exports of cotton yarn are subject to registration procedure laid down by DGFT vide Policy Circular No. 27 (RE-2010) / 2009-14 dated April 1, 2011. Under the system, registration certificates are given by the regional offices of DGFT to the exporters of cotton yarn specifying the quantity to be exported. Further, there was a penalty in the case of shortfall of more than 5 percent in the quantity exported. Many of the exporters had pointed out regarding difficulty faced by them in following this procedure. There are  issues faced by the exporters like variations of +5percent  in the weight of the cotton yarn exported which attracted penalty, no provision for extension in the validity of registration certificates issued as there are  possibilities of delay in shipments due to genuine difficulty faced by the exporters etc.

The decision of the Government to abolish the registration certificate procedure for the export of Cotton Yarn will contribute towards “Ease of Doing Business & Simplification of Procedures as envisaged by the Government, according to the Chairman , TEXPROCIL.