New User / Register | Bookmarks | Annual Subscription | Feedback |
Login: Stay
| Forget Password |
           
TMI - Tax Management India. Com  

News and Press Release
Home News Commentaries / Editorials Month 9 2008 2008 (9) This
Previous Next
 

Supply from DTA units to SEZ units - amendment in the provisions relating to DEPB

September 20, 2008
 

Notification No. 42 (RE-2008)/2004-2009 dated 18/9/2008 has been issued to amend the provisions related to amend the para 4.3.1 of the Foreign Trade Policy 2008 relating to eligibility of DEPB on export of goods from DTA units to SEZ units against foreign currency

Existing Provision:

"4.3.1 An exporter may apply for credit, at specified percentage of FOB value of exports, made in freely convertible currency  or payment made from foreign currency account of  SEZ unit / SEZ Developer in case of supply by DTA.

Credit shall be available against such export products and at such rates as may be specified by DGFT  by way of public notice. Credit may be utilized for payment of Customs Duty on freely importable items.  DEPB Scrips can also be utilized for payment of duty against imports under EPCG Scheme w.e.f 1.1.2009."

New Provision:

"4.3.1 An exporter may apply for credit, at specified percentage of FOB value of exports, made in freely convertible currency. In case of supply by a DTA Unit to a SEZ Unit /SEZ Developer / Co-Developer, an exporter may apply for credit for exports made in freely convertible currency or payment made from foreign currency account of SEZ Unit / SEZ Developer /Co-Developer. In addition, the exporter shall also be entitled for DEPB benefit in case payment is made in Indian Rupees by SEZ Developer / Co-Developer for supplies received w.e.f 10.2.2006."

 
_____________________________________

 

what is new what is new

Updates Knowledge Sharing Subscription Communication Newsletters More Options




Go to Mobile Website Go To Top
© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.