Government issues Customs Exemption Notifications to give effect to new FTP
Served From India Scheme: capital goods including spares, office equipment, professional equipment, office furniture, consumables, related to its service sector business and food items and alcoholic beverages, for hotels and stand alone restaurants. - NOTIFICATION NO. , Dated: September 11, 2009
Focus Product Scheme: Goods imported under duty credit scrip issued against exports of the products notified in Appendix 37-D; the importer shall be entitled to avail of the drawback or CENVAT credit of additional duty leviable under section 3 of the said Customs Tariff Act against the amount debited in the said scrip - NOTIFICATION NO. , Dated: September 11, 2009
Focus Market Scheme: Exemption in respect of duty credit scrip issued against exports to the countries notified in Appendix 37-C of the Handbook of Procedures: the scrip and goods imported against it shall be freely transferable; the importer shall be entitled to avail of the drawback or CENVAT credit of additional duty leviable under section 3 of the said Customs Tariff Act against the amount debited in the said scrip - NOTIFICATION NO. , Dated: September 11, 2009
Vishesh Krishi and Gram Udyog Yojana (Special Agriculture and Village Industry Scheme): exempts capital goods specified in paragraph 3.13.4 of the Foreign Trade Policy, when imported into India against an Agri.Infrastructure Incentive scrip; importer shall be entitled to avail of the drawback or CENVAT credit of additional duty leviable under Section 3 of the Customs Tariff Act, against the amount debited in the said scrip. - NOTIFICATION NO. , Dated: September 11, 2009
Vishesh Krishi and Gram Udyog Yojana (Special Agriculture and Village Industry Scheme): exempts inputs or goods including capital goods, when imported into India against a duty credit scrip issued to an exporter of products specified in paragraph 3.13.2 of the foreign trade policy; importer shall be entitled to avail of the drawback or CENVAT credit of additional duty leviable under Section 3 of the Customs Tariff Act, against the amount debited in the said scrip: NOTIFICATION NO. , Dated: September 11, 2009
Advance Authorisation: materials imported into India against an Advance Authorisation issued in terms of paragraph 4.1.3 of the Foreign Trade Policy; in addition to exemption of basic and additional customs duties, also exempts safeguard duty and anti-dumping duty levied under 8B and 9A of Customs Tariff Act;in respect of imports made after the discharge of export obligation, if facility of CENVAT Credit under CENVAT Credit Rules, 2004 has been availed, then the importer shall, at the time of clearance of the imported materials furnish a bond to the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, binding himself, to use the imported materials in his factory or in the factory of his supporting manufacturer for the manufacture of dutiable goods and to submit a certificate, from the jurisdictional Central Excise officer or from a specified chartered accountant within six months from the date of clearance of the said materials, that the imported materials have been so used: NOTIFICATION NO. , Dated: September 11, 2009
Duty Entitlement Pass Book : Goods other than edible oils to attract nil duty and edible oils at 50% of the applied rate: importer shall be entitled to avail of the drawback or CENVAT credit of additional duty leviable under Section 3 of the Customs Tariff Act, against the amount debited in the scrip. NOTIFICATION NO. , Dated: September 11, 2009
Duty Free Import Authorisation : exempts materials imported into India against a Duty Free Import Authorisation issued in terms of paragraph 4.2.1 and 4.2.2 of the Foreign Trade Policy; in addition to exemption of basic and additional customs duties, also exempts safeguard duty and anti-dumping duty levied under 8B and 9A of Customs Tariff Act; In respect of the said resultant product the exporter shall give declaration with regard to the quality, technical characteristic and specifications of materials used in the shipping bill; - NOTIFICATION NO. , Dated: September 11, 2009
Advance Authorisation for Annual Requirement: exempts materials imported into India, against an Advance Authorisation for Annual Requirement (hereinafter referred to as the said Authorization) with actual user condition in terms of Paragraph 4.1.10 of the Foreign Trade Policy: In respect of the inputs specified in paragraph 4.24A ( i ) of the Hand Book of Procedures, Volume 1 of the Foreign Trade Policy, the material permitted in the said authorization shall be of the same quality, technical characteristics and specifications as the materials used in the export of the resultant product: - NOTIFICATION NO. , Dated: September 11, 2009
Export Promotion Capital Goods (EPCG) Scheme: With the condition that the goods imported are covered by a valid authorization issued under the Export Promotion Capital Goods (EPCG) Scheme to Common Service Providers(hereinafter referred to as CSP) designated by the Director General Of Foreign Trade or State Industrial Infrastructural Corporation in Towns Of Export Excellence (TEE) in terms of Chapter 5 of the Foreign Trade Policy permitting import of goods at the rate of three percent duty and the said authorization is produced for debit by the proper officer of customs at the time of clearance ; EO spread over a period of 8 years or 12 years depending on the duty saved; NOTIFICATION NO. , Dated: September 11, 2009
EPCG Scheme: goods imported for export of engineering and electronic products, basic chemicals and pharmaceuticals, apparels and textiles, plastics, handicrafts, chemicals and allied products and leather & leather products: goods imported covered by a valid authorization issued under the Export Promotion Capital Goods (EPCG) Scheme to Common Service Providers(hereinafter referred to as CSP) designated by the Director General Of Foreign Trade permitting imports at zero customs duty; the Common Service provider or any of the specific users is not currently availing any benefits under Technology Upgradation Fund Scheme ( TUFS ) administered by Ministry of Textiles, Government of India; the Common Service provider or any of the specific users does not avail, in the year of import of the goods, the benefit of Status Holder Incentive Scheme under Para 3.16 of the Foreign Trade Policy; EO spread over a period of six years; NOTIFICATION NO. , Dated: September 11, 2009
EPCG Scheme : goods imported covered by a valid authorization issued under the Export Promotion Capital Goods (EPCG) Scheme in terms of Chapter 5 of the Foreign Trade Policy permitting import of goods at zero customs duty and the said authorization is produced for debit by the proper officer of customs at the time of clearance; the importer is not currently availing any benefits under Technology Upgradation Fund Scheme (TUFS) administered by Ministry of Textiles, Government of India; the importer does not avail, in the year of import of the goods, the benefit of Status Holder Incentive Scheme under Para 3.16 of the Foreign Trade Policy; EO spread over a period of six years; NOTIFICATION NO. , Dated: September 11, 2009
EPCG Scheme: the goods imported are covered by a valid authorization issued under the Export Promotion Capital Goods (EPCG) Scheme in terms of Chapter 5 of the Foreign Trade Policy permitting import of goods at the rate of three percent duty and the said authorization is produced for debit by the proper officer of customs at the time of clearance; EO spread over a period of 8 years or 12 years depending on the duty saved; NOTIFICATION NO. , Dated: September 11, 2009
The imports and exports are to be undertaken through specified ports, but Commissioner of Customs may, by special order or a public notice and subject to such conditions as may be specified by him, permit import and export through any other sea-port, airport, inland container depot or through a land customs station within his jurisdiction.
The very reason to have a five year Foreign Trade Policy is to avoid frequent changes and uncertainty so that the exporting / importing community can plan their business models accordingly. Now there are changes every year and fresh notifications are issued for DEPB / Advance Licence etc and the old notifications continued to take care of the imports already made under those notifications and the related licences/ extensions issued. As a result we find many Notifications existing on the same subject which is sure to confuse the best consulting brain of any other country.? And why so much delay after the FTP was announced?