Foreign Trade Policy – Several Customs Notifications amended
(i) Served From India Scheme Certificate – Notification No. 92/2004-Cus is amended to stipulate that the foreign exchange counted towards fulfillment of export obligation (over and above the average) under Export Promotion Capital Goods Scheme shall not be eligible for benefits under the scheme.
(ii) EPCG Scheme – Waiver of export obligation – Notification No. 97/2004 – Cus is amended to provide that Waiver of' Export Obligation may be considered where, because of force majeure or other unforeseen circumstances/ reasons, exporter is unable to fulfill export obligation. A Committee comprising representative(s) of Department of Commerce and Department of Revenue under Directorate General of Foreign Trade shall consider such requests. Decision of this Committee shall be notified by Department of Revenue for implementation;
(iii) VisheshKrushi and Gram UdyogYojana – Notification No. 41/2005 is amended to stipulate
a. that the foreign exchange counted towards fulfillment of export obligation (over and above the average) under Export Promotion Capital Goods Scheme shall not be eligible for benefits under the scheme;
b. that the exports made by EOUs/BTPs who do not avail of direct tax benefits/exemption shall be eligible provided the same is not covered under paragraph 3.8.2.2 of the Policy.
c. The following categories of exports specified in paragraph 3.8.2.2 of the Foreign Trade Policy shall not be taken into account for duty credit scrip entitlement under the scheme:
a. (i) export of imported goods covered under Para 2.35 of Foreign Trade Policy; (ii) exports through transshipment, meaning thereby that exports originating in third country but transshipped through India; b. deemed exports; c. exports made by Special Economic Zone units; and d. items, which are restricted or prohibited for export under Schedule-2 of Export Policy in ITC (HS):
(iv)Focus Market Scheme – Notification No. 90/2006 is amended to stipulate
a. that the exports made by EOUs/EHTPs/BTPs who do not avail of direct tax benefits/exemption shall be eligible, provided the same is not covered under paragraph 3.9.2.2 of the Policy;
b. that the items allowed for import shall be in accordance with Paragraph 3.12.4 of the Foreign Trade Policy;
c. that the foreign exchange counted towards fulfillment of export obligation (over and above the average) under Export Promotion Capital Goods Scheme shall not be eligible for benefits under the scheme.
d. The following categories of exports specified in paragraph 3.9.2.2 of the Foreign Trade Policy shall not be counted for calculation of export performance or for computation of entitlement under the scheme:
(i) export of imported goods covered under Para 2.35 of Foreign Trade Policy; (ii) exports through transshipment, meaning thereby that exports originating in third country but transshipped through India; (b)Export turnover" of Special Economic Zone units or supplies made to such units or Special Economic Zone products exported through Domestic Tariff Area units; (c) deemed exports; (d) service exports; (e) diamonds and other precious, semi precious stones; (f) gold, silver, platinum and other precious metals in any form, including plain and studded jewellery; (g) ores and concentrates, of all types and in all forms; (h) cereals, of all types; (i) sugar, of all types and in all forms; (j) crude/petroleum oil and crude/petroleum based products covered under ITC HS Codes 2709 to 2715, of all types and in all forms; and (k) items, which are restricted or prohibited for export under Schedule-2 of Export Policy in ITC (HS).
(v) Focus Product Scheme - Notification No. 91/2006 is amended to stipulate
a. that the exports made by EOUs/EHTPs/BTPs who do not avail of direct tax benefits/exemption shall be eligible, provided the same is not covered under paragraph 3.10.2.2 of the Policy;
b. that the items allowed for import shall be in accordance with Paragraph 3.12.4 of the Foreign Trade. Policy;
c. that the foreign exchange counted towards fulfillment of export obligation (over and above the average) under Export Promotion Capital Goods Scheme shall not be eligible for benefits under the Scheme.
d. The following categories of exports specified in paragraph 3.10.2.2 of the Foreign Trade Policy shall not be counted for calculation of export performance or for computation of entitlement under the scheme:
(a) (i) export of imported goods covered under Para 2.35 of Foreign Trade Policy; (ii) exports through transshipment, meaning thereby that exports originating in third country but transshipped through India; (b) export turnover of Special Economic Zone units or supplies made to such units or Special Economic Zone products exported through Domestic Tariff Area units; and. (c) deemed exports.
Notification No. , Dated May 21, 2007