Vishesh Krishi Upadhya Yojana Credit can be used for imports
The DGFT has clarified that the duty credits issued under Vishesh Krishi Upadhya Yojana can be used for payment of Customs duty on import of inputs and freely importable goods. It appears that Customs authorities are not permitting such use. DGFT has further clarified that as of now these scraps cannot be used for payment of duty on imported Capital goods.
DGFT circular no. 40/2005/09 Dt. December 8, 2005