AMENDMENT IN FTP (RE-2012)(2009-2014)- POST EXPORT EPCG SCHEME – BASIC CUSTOMS DUTY PAID ON CAPITAL GOODS SHALL BE REMITTED IN THE FORM OF FREELY TRANSFERABLE DUTY CREDIT SCRIP(S)


Dated 10th July 2013

Government of India, Ministry of Commerce and Industry, Department of Commerce vide its Notification No.33  (RE-2012) /2009-2014 dated 8th  February, 2013 hereby amends with immediate effect para 5.11 of Foreign Trade Policy, 2009-2014 (RE 2012) as follows.

2. The existing Sub-Para (b) of Para 5.11of FTP which reads as under has been amended:-

    “Duty paid on capital goods (excluding portion CENVATed/ Rebated) shall be remitted in the form of freely transferable duty credit scrip(s)”

 The amended Sub-Para (b) of Para 5.11of FTP will now read as under:

    “Basic Customs duty  paid on Capital Goods shall be remitted in the form of freely transferable duty credit scrip(s), similar to those issued under Chapter 3 of FTP.”

3. Effect of this amendment :

    It is clarified that duty credit scrips issued under Post Export EPCG Scheme will be issued only in  respect of basic customs duty and will have the same features as Chapter 3 scrips.

SOURCE: GOVT. OF INDIA, Ministry of Commerce and Industry

 

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