More FTP Exemptions
STATUS HOLDERS INCENTIVE SCHEME : capital goods when imported into India against a duty credit scrip issued under the Status Holders Incentive Scheme, will be exempted from Customs duty, subject to the conditions that
1. The scrip has been issued by the licensing Authority to a status holder against exports of the products of the sectors, namely, leather (excluding finished leather), Textiles and Jute , Handicrafts, Engineering (excluding Iron and Steel, Non Ferrous Metals in primary or intermediate forms, Auto mobiles & Two wheelers, Nuclear reactors and parts and ships, Boats and Floating structures), plastic and basic chemicals(excluding Pharma Products)
2. the exports of the products of the above said sectors, made during 2009-10 and 2010-11 shall only be considered for entitlement under the scheme
3. the said scrip shall be non-transferable and shall be used for import of capital goods relating to the sectors specified.
4. the capital goods imported against the said scrip shall be subject to actual user condition
5. Imports and exports to be through certain specified ports – Commissioner can relax this condition.
6. 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
Notification No. ., Dated: September 14, 2009
Exemption to Status Holders: Certain goods imported by status holders of marine sector and other sectors exempted when imported into India against a Duty Credit Certificate. Notifications 53/2003-Customs, dated the 1 st April, 2003, 32/2005-Customs, dated the 8 th April, 2005 and 73/2006-Customs, dated the 10 th July, 2006 are amended.
Notification No. ., Dated: September 14, 2009