DGFT notifies Suspension of SION E-125 for Export Product Shea Stearine [Read Order]
DGFT – Suspension of SION E-125 – Export Product Shea Stearine – SION E-125 – taxscan
DGFT – Suspension of SION E-125 – Export Product Shea Stearine – SION E-125 – taxscan
The Directorate General of Foreign Trade (DGFT) has taken an important step in trade policy through a notification issued on October 12, 2023, under reference number 33/2023 F. No. HQRNORMREVIW00003853AM23/NC-VI. This notification concerns the suspension of Standard Input-Output Norms (SION) for a specific export product, Shea Stearine.
The Director General of Foreign Trade, acting under the authority granted by Paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, with amendments incorporated over time, has officially suspended the SION E-125 for the export of "Shea Stearine" with immediate effect.
Exporters intending to obtain Advance Authorisation for the export of the aforementioned product can make applications under Para 4.07 of the Handbook of Procedures, 2023, while the SION E-125 remains suspended. This provision will be applicable until the SION E-125 is revised based on the updated production and consumption data provided by the exporting firms.
The effect of the notification is that the SION, denoted as E-125 and associated with Shea Stearine, has been suspended with immediate effect. This suspension is in place until a new SION is established, which will be based on revised production and consumption data submitted by the exporting firms.
To Read the full text of the Order CLICK HERE
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