FTP - Scheme to Incentivize Incremental Exports Notified
GOVERNMENT has notified a scheme to incentivize incremental exports.
An IEC holder would be entitled for a duty credit scrip @ 2% on the incremental growth during the period 01.01.2013 to 31.3.2013 compared to the period from 01.01.2012 to 31.3.2012 on the FOB value of exports. Incremental growth shall be in respect of each exporter (IEC holder) without any scope for combining the exports for Group Company. Incentive will be admissible only if the IEC holder has achieved growth in the financial year 2012-2013 vis a vis financial year 2011-2012.
For the purpose of the scheme, export performance shall not be allowed to be transferred from any other IEC holder.
Benefit under this scheme will not be allowed to an exporter who had made no export between 01/01/12 to 31/03/12.
The following exports shall not be taken into account for calculation of export performance or for computation of entitlement under the Scheme:
1. Export of imported goods or exports made through trans-shipment.
2. Export from SEZ/ EOU /EHTP /STPI /BTP/FTWZ
3. Deemed Exports
4. Service Exports
5. Third Party exports
6. Diamond, Gold, Silver, Platinum, other precious metal in any form including plain and studded jewellery and other precious and semi-precious stones.
7. Ores and concentrates of all types and in all formations.
8. Cereals of all types.
9. Sugar of all types and all forms.
10. Crude / petroleum oil and crude / primary and base products of all types and all formulations.
11. Export of milk and milk products.
12. Export performance made by one exporter on behalf of other exporter.
13. Supplies made to SEZ units.
14. Items, export of which requires an export authorisation (except SCOMET), will not be considered.
15. Export of Meat and Meat Products.
16. Exports to Singapore, UAE and Hong Kong.
The scheme is region specific and will cover exports to USA, Europe and Asian countries only.
This benefit will be over and above any benefit being claimed by the exporter under any of the Chapter 3 Schemes.
The duty credit scrip will be freely transferable. Such scrips shall also be eligible for domestic sourcing.
This measure of the Government has been welcomed by the trade especially garment exporters.
DGFT Notification No. 27/(RE-2012)/2009-14, Dated: December 28, 2012