Amendments in Foreign Trade Policy – Board clarifies.
Board has come up with a circular explaining the important features of the Annual Supplement to the Foreign Trade Policy – two months later.
1. Vishesh Krishi Upaj Yojana – Benefits under the scheme extended to poultry and dairy products. Duty credit equal to 5% of FOB value of exports to be given. Notification No. 41/2005-Cus, dated 9-5-2005 issued to operationalise the scheme. Procedure as per DGFT guidelines.
2. Served from India Scheme – Goods imported under the scheme allowed to be transferred within group companies and managed hotels under actual user conditions. - Notification No. 46/2005-Cus, dated 17-5-2005.
3. EPCG Scheme –
(i) Agro units allowed fulfilling export obligation of six times the duty in 12 years instead of 8 times the duty in 8 years.
(ii) Import of capital goods at concessional customs duty.
(iii) Import of capital goods for retailers.
(iv) Those fulfilling 75% or more of export obligation in half or less than half the stipulated period need not fulfill the balance of export obligation.
(v) Importers not registered with Central Excise can get installation certificate form Chartered Engineer.
4. Advance Licensing Scheme
(i) Inputs under Advance License for deemed export supply under International Competitive Building exempted from Safe Guard duty and Anti-dumping duty.
(ii) Advance license for annual requirement extended to all categories while this facility was allowed only to status holders earlier.
(iii) BIFR and Sick SSI Units allowed extension of export obligation.
(iv) Inter-unit transfer of duty free material allowed with prior intimation to Central Excise. No permission required.
(v) Duty free inputs allowed to be cleared for job work by following the Central Excise job work procedure.
5. Duty Free Replenishment Certificate Scheme – Brass scrap additives, paper and paper board, removed from sensitive list. Re-credit of 95% of the value allowed in case of rejection of imported goods.
6. Duty Entitlement Pass Book (DEPB) Scheme - DEPB extended up to 30-9-2005.
7. Marine Sector –
(i) Duty free import of specialized imports to the extent of 1% of the FOB value of previous years exports.
(ii) Import of monofilament long line system for Tuna fishing at concessional rate.
(iii) Self removal procedure for sea food waste.
8. Execution of BG/LUT – Bank guarantee reduced to 15% for most of the categories.
9. Third Party Exports – Definition of third party exports amendment in tune with the definition under the policy.
Circular No. , dated 12th July 2005