VALUE ADDITION NORMS FOR EXPORTS FOR WHICH PAYMENTS ARE NOT IN FREELY CONVERTIBLE CURRENCY

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..... nce been switched over to payment in freely convertible currency except (i) for exports from India against liquidation of Rupee balances to the credit of erstwhile RPA countries; and for exports to the Russian Federation against funds available in the special Rupee Accounts in the names of Russian entities. (ii) For exports to the Russian Federation against India's repayment of State cre .....

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..... igher. (d) For exports to the Russian Federation against funds available against Special Rupee Accounts in the name of Russian Entities, the value addition norms in cases involving duty free imports under the Duty Exemption/ Remission Scheme shall be 33% or the percentage of value addition indicated in the Hand Book of Procedures, whichever is higher . 3. In respect of the exports indicated .....

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