No more Force majeure?
As per Para 2.50 of the Foreign Trade policy, Export Obligation period and validity of an authorization shall be extended if the unit suffers on account of unforeseen circumstances/reasons and force majeure. Now this para is deleted. Does it mean that even if the unit is wiped off by Tsunami, it has to fulfil the export obligation?
Vishesh Krishi and gram Udyog Yojana (VKGUY)
: As per the FTP para 3.86, ‘all status holders shall be incentivised with duty credit scrip equal to 10% of FOB value of agricultural exports....” Now this is amendedto read as All Status Holders shall be incentivised with duty credit scrip equal to 10% of FOB value of agricultural exports (including benefits entitled under paragraph 3.8.2). Does this mean that the credit of 10% is inclusive of the credit under para 3.8.2 or does it mean that the exporter is eligible for the credit under para 3.8.6 and under 3.8.2? And there is a new clause added that This additional benefit shall be subject to Actual User condition and hence non-transferable.