FTP - FPS Benefits to Other Cast Articles of Iron & Steel - DGFT Clarifies
THE following entries in the Appendix 370 provides benefit of FPS to the Articles of Iron & Steel.
Sl. No | Item Description | ITC(HS) Code |
|---|---|---|
240 | Cast Articles of Alloy steel malleable | 73259920 |
241 | Cast Articles of Stainless Steel malleable | 73259930 |
279 | Other Cast Articles of Iron & Steel | 7325 |
One of the RAs raised a doubt:
If the purpose of FTP is to grant FPS benefit only to Malleable Products under the ITC (HS) Code 73259920 and 73259930, then Sl. No. 279 of Appendix 37 D with ITC(HS) Code 7325 is invalid.
If the purpose of FTP is to grant FPS to all the products falling under the HS Code group 7325 whether it is malleable or not then all the claim with Sl. No 279 of Appendix 37 D with ITC (HS) Code 7325 is valid .
The DGFT examined the issue and observed, “The entry at Sl. No. 279 of Appendix 37 D with ITC (HS) Code 7325 does not have any condition that the products are to be malleable or non- malleable.”
The DGFT, therefore, clarifies: all "Other Cast Articles of Iron or Steel" falling under the four digit ITC(HS) Code 7325 whether malleable or non-malleable are eligible for FPS under the entry at Serial No. 279 of Appendix D.
Is the question raised by the RA answered?
DGFT Trade Notice No. 08/2016., Dated: June 09, 2016