Target Plus Scheme 3.2.5

The Policy for the Target Plus Scheme is given at Chapter 3 of the Foreign Trade Policy.

I. For direct as well as third party exports, the Export documents viz Export Order, Invoice, GR form, Bank Realization Certificate should be in the name of applicant only.

However for the third party exports, where goods have been procured from a manufacturer, the shipping bill should contain the name of the exporter as well as the supporting manufacturer.

II. Goods allowed to be imported under this scheme shall have a broad nexus with the products exported. [Deleted - For the purpose of import entitlements under this scheme, ‘broad nexus’ would mean goods imported with reference to any of the product groups of the exported goods within the overall value of the entitlement certificate.]

Note 1. The words ‘Goods’ in first sentence shall mean inputs and capital goods as permitted under Para 3.7.6 of FTP (RE2004 & Re2005).

Note 2. In Para 3.7.6 of FTP (RE2004 & RE 2005), there is no quantitative / duty quantum restriction on import of inputs related to export products, which may otherwise be stipulated as a norm for export product.

(Note 1 & 2 - added, second sentence of para 3.2.5 (II)- deleted vide PN. NO. 09/2007, DT. 21/06/2007)

III. The licensing authority shall at the time of issuance of the duty credit entitlement certificate endorse the name of the associate manufacturer/ supporting manufacturer/job worker on the certificate as declared by the applicant. Goods imported against such entitlement certificate shall be used by the applicant or his supporting manufacturer/ job worker.

Further in order to enable supporting manufacturers, whose names appear in the shipping bills, to import directly, Licensing Authority concerned shall endorse the names of such supporting manufacturers on the certificate as co-licensees.

However, RA concerned can list the Job-Worker(s), upon request made as per Annexure A to this Public Notice, at any time during the validity of duty free credit entitlement certificate. Acronyms used for duty free credit entitlement certificate are ‘DFCEC’ or ‘DFCE’ scrips, which means ‘duty credit scrip’ issued under the scheme.

(Above paragraph has been added vide PN NO. 113/2007, DT. 15/02/2008)

IV. The last date for filing of such applications shall be 31st December.

(Pl. refer P. CIR NO. 39/2005, DT. 08/12/2005 - Regarding last date for submission of applications for claiming benefits under Target Plus Scheme 2004-05)

V. For each duty credit certificate, split certificates subject to a minimum of Rs 5 lakh each and multiples thereof may also be issued. A fee of Rs 1000/- each shall be paid for each split certificate. However, a request for issuance of split certificate(s) after issuance shall be permitted and Split certificate with different port of registration shall also be allowed.[OLD- However, a request for issuance of split certificate(s) shall be made at the time of application only and shall not be considered at a later stage.]

(Last sentence at V. has been replaced by PN. NO. 29/2007, DT. 24/07/2007)

VI. The duty credit certificate shall normally be issued with a single port of registration. However the applicant may choose for different ports of registration for each split certificate.

The certificate that are valid on date of issue of this Public Notice, shall have an extended validity for a further period of 12 months from the issue of this Public Notice, without equirement of endorsement of extended validity on the certificate from the concerned regional authority.

(Second Para at VI. has been added vide PN. NO. 29/2007, DT. 24/07/2007)

VII. The duty credit certificate shall be valid for a period of 24 months from the date of issue.

Over and above the extended validity granted automatically, vide Public Notice No 29 (RE-2007)/2004-09 dated 24.07.2007; maximum two revalidations, for one year each from date of expiry, are allowed. Application for revalidation may be made to RA concerned within 2 months of expiry, on the letter head of the applicant.

[OLD- Revalidation of duty credit entitlement certificate shall not be allowed. ]

(Above second sentence has been replaced by PN NO. 113/2007, DT. 15/02/2008)

[DELETED -
VIII. The applicants shall within one month of the last imports made under this certificate or within one month of expiry of the certificate which ever is earlier, submit a statement of imports/ utilization made under the certificate as per ‘Aayaat Niryaat Form’, to the jurisdictional Regional Licensing Authority who have issued the Certificate with a copy to the jurisdictional Excise authorities. ]

IX. Application shall be filed with jurisdictional regional authority as per the address given in the Status Certificate.

Accordingly Zonal Committee is abolished. Zonal Offices shall transfer applications filed with them(including pending and deficient applications) to RA concerned, for further processing.

(Above IX. has been replaced by PN. NO. 29/2007, DT. 24/07/2007)

[OLD-
IX. Applicants shall file the applications in Appendix 17D to the jurisdictional Zonal Office (Mumbai, Kolkata, Chennai, Delhi CLA) depending upon the location of Registered Office / head Office of the applicant. The respective Zonal offices shall consider the applications and issue the license or otherwise.]

(Above VIII. - deleted & IX. - added vide PUBLIC NOTICE NO. 16/2005, DT. 04/06/2005)

The Certificates / Scrips, which are valid as on the date of issue of this Public Notice, shall have an extended validity for a further period of 12 months from the date of issue of this Public Notice, and there shall be no requirement of endorsement of this extended validity on the Certificate/Scrip from the concerned regional authority.

(Above para has been added vide PN. NO. 68/2009, DT. 26/05/2010)