S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in the Foreign Trade Policy (FTP) 2009-14 with immediate effect:

2. Para 3.17.11 of FTP 2009-14 is amended [Portion being added has been marked in bold letters] to be read as under:

“3.17.11:

Duty Credit Scrip can be utilised / debited for payment of Custom Duties in case of EO defaults for Authorizations issued under Chapters 4 and 5 of this Policy. However, penalty / interest shall be required to be paid in cash. Scrips issued under SHIS, SFIS and AIIS cannot be utilised / debited for payment of Custom Duties in case of EO defaults for Authorizations issued under Chapters 4 of this Policy. Duty credit scrips can also be used for payment of composition fee under FTP, for payment of application fee under FTP, if any and for payment of value shortfall in EO under para 4.28 (b) of HBP v1 2009-14.”

Effect of this Notification: SHIS, SFIS and AIIS scrips cannot be used for payment of Custom duty for shortfall in EO in Advance Authorisation or DFIA (i.e. default in EO for authorisation issued under Chapter 4 of Foreign Trade Policy).
 

(Anup K. Pujari)

Director General of Foreign Trade
E-mail: dgft@nic.in

[Issued from File No. 01/61/180/123/AM13/PC3]