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CBEC Follows
The CBEC has closely monitored the Foreign Trade policy and has issued the necessary notifications to put into effect the policy.
Customs Duty exemption to EPCG Goods: EPCG Scheme allows import of capital goods for pre-production, production and post-production at Zero customs duty. This allows is valid only if the Revenue Department allows it by a notification. Now, the Customs Notification exempts the goods imported covered by a valid authorisation issued under the Export Promotion Capital Goods (EPCG) Scheme in terms of Chapter 5 of the Foreign Trade Policy permitting import of goods at zero customs duty. - Notification No. , Dated: April 1, 2015.
Customs Duty exemption to Post Export duty credit scrip: As per para 5.12 of the Policy, Post Export EPCG Duty Credit Scrip(s) shall be available to exporters who intend to import capital goods on full payment of applicable duties in cash and choose to opt for this scheme. Basic Customs duty paid on Capital Goods shall be remitted in the form of freely transferable duty credit scrip(s). Now the Customs has notified the exemption. - Notification No. , Dated: April 1, 2015.
Advance Authorisation: As per para4.02 of the Policy, Advance Authorisation is issued to allow duty free import of input, which is physically incorporated in export product (making normal allowance for wastage). In addition, fuel, oil, catalyst which is consumed / utilised in the process of production of export product, may also be allowed. Advance Authorisation is also issued for inputs in relation to resultant product. Now the Customs Notification is issued to exempt materials imported into India against a valid Advance Authorisation issued by the Regional Authority in terms of paragraph 4.03 of the Foreign Trade Policy. Customs has notified the exemption. - Notification No. , Dated: April 1, 2015.
Duty Free Import Authorisation Scheme (DFIA): As per para 4.25 of the Policy, Duty Free Import Authorisation is issued to allow duty free import of inputs. In addition, import of oil and catalyst which is consumed / utilised in the process of production of export product, may also be allowed. Duty Free Import Authorisation shall be issued on post export basis for products for which Standard Input Output Norms have been notified. Now the Government has issue the Customs exemption notification to exempt materials imported into India against a valid Duty Free Import Authorisation. - Notification No. , Dated: April 1, 2015.
Advance Authorisation for Annual Requirement: Exporters having past export performance (in at least preceding two financial years) shall be entitled for Advance Authorisation for Annual requirement. Advance Authorisation for Annual Requirement shall only be issued for items notified in Standard Input Output Norms (SION), and it shall not be available in case of adhoc norms. Government has notified the Customs exemption. - Notification No. , Dated: April 1, 2015.
Advance Authorisation for deemed export: Government has granted exemption to materials required for the manufacture of the final goods when imported into India against Advance Authorisation for deemed export granted by the Regional Authority in terms of paragraph 4.05 (c) (iii) of the Foreign Trade Policy permitting import of the said materials - Notification No. , Dated: April 1, 2015.
Advance Authorisation for export of prohibited items: Government has exempted materials imported into India against an Advance Authorisation issued in terms of paragraph 4.03 read with paragraph 4.18 (i) of the Foreign Trade Policy meant for export of a prohibited item in terms of paragraph 4.05 of the Handbook of Procedures. - Notification No. , Dated: April 1, 2015.
Consequential Amendment: To include the latest notifications, Notification No. 104/2009-Customs, dated the 14th September, 2009, is amended - Notification No. , Dated: April 1, 2015.
Central Excise:
Excise Exemption to Post Export EPCG duty credit scrip: Government has exempted goods when cleared against a Post Export EPCG duty credit scrip issued by the Regional Authority in accordance with paragraph 5.12 of the Foreign Trade Policy which provides for duty remission in proportion to export obligation fulfilled . - Notification No. , Dated : April 1, 2015.
Consequential Amendment: To include the latest notifications, Notification No. 33/2012-Central Excise dated the 9th July, 2012, is amended - Notification No. , Dated : April 1, 2015.
The very fact that the Customs Notifications were issued on the same day as that of the Policy indicates that the Commerce and Revenue Departments were working in close coordination and were not at war against each other.