FTP - Amendment of HBP Vol. 1 for revalidation of freely transferable Authorization/Duty credit scrips and re-credit of 4% SAD
THE DGFT has amended the Handbook of Procedures (Vol. I):
Para. 2.13.1 amended to read as “However, revalidation of freely transferable Authorisation / Duty credit scrips and stock and sale Authorisation shall not be permitted unless validity has expired while in custody of Customs authority / RA.”. This earlier read as, “However, revalidation of freely transferable Authorisation and stock and sale Authorisation shall not be permitted unless validity has expired while in custody of Customs authority / RA.”
A new para 2.13.2A added:
For the purpose of re-credit of 4% Special Additional Duty (SAD) of customs in the freely transferable Duty credit scrips (including DEPB), revalidation for a maximum period of 6 months from the date of endorsement, shall be allowed in case the balance period of validity is less than 6 months on the date of re-credit.
DGFT Public Notice No. 38/2009-14, Dated: February 3, 2010