Deemed exports under FTP – ICB is not mandatory for Mega Power Projects
PARA 8.2 of the FTP 2009-2014 has been amended to do away the requirement of International Competitive Bidding for Mega power Projects subject to certain conditions. The following sentence has been added to para 8.2:
“However, in regard to mega power projects, the requirement of ICB would not be mandatory, if the requisite quantum of power has been tied up through tariff based competitive bidding or if the project has been awarded through tariff based competitive bidding.”
And also the following sentence has been added at the end of paragraph 8.4.4(iv):
“Further, supply of goods required for the expansion of existing mega power project as specified in Sl. no 400A of DoR Notification 21/2002- Customs dated 1.3.2002, as amended shall also be eligible for deemed export benefits as mentioned in paragraph 8.3 ( a), (b) and (c) of FTP, whichever is applicable.”
DGFT Notification No. 24/(RE 2010/2009—2014), Dated: January 14, 2010