Goods procured against SFIS scrips can be alienated after 3 years

By Vijay Kumar

THE Central Government has amended paragraph 3.12.7 of FTP to read as under:

"Entitlement/goods (imported / procured) shall be non-transferable (except within group company and managed hotels) and be subjected to Actual User condition. However, these goods can be alienated on completion of 3 years from the date of import / procurement."

The effect of this notification is that goods imported/procured against SFIS scrips can be alienated on completion of 3 years from the date of import / procurement.

Notification 30/(RE-2013)/2009-2014, Dated: August 01, 2013