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2023 (2) TMI 107 - HC - CustomsServed From India Scheme - grant of excess duty credit in respect of the scrips issued between 01.04.2009 to 26.08.2009 - impugned order states that the credits scrips that were issued to the petitioner on 21.02.2011 had inadvertently computed the credit at 10% instead of 5% to which the petitioner was entitled - HELD THAT:- The interpretation of the policy itself must be in tune with the avowed objectives of the various schemes that have been formulated under the policy. The Served from India Scheme has been outlined from Clause 3.12 of the Foreign Trade Policy and the avowed objective is 'to accelerate growth in export of services so as to create a powerful and unique 'Served From India' brand, instantly recognized and respected world over.' Needless to say financial year qua a revenue enactment/policy is always understood to mean the 1st of April of the relevant year till the 31st of March of the year to follow. In the present case, no doubt the Foreign Trade Policy for the period 2009 to 2014 has come into effect only on 27.08.2009, and there is also a categoric stipulation in Clause 1.2 which deals with duration of the policy, that all exports and imports upto 26.08.2009 shall be governed only by the terms of the previous policy which prescribes the rate of 5% only - we are concerned with specified imports under the Served From India scheme which must stand on a separate pedestal. As far as the eneitlement to the imports/exports under this scheme are concerned, the entitlement is categoric to the effect that the service provider is entitled to duty credit scrips equivalent to 10% earned during current financial year. The impugned order is set aside and as a consequence the surrendered scrips of a value of Rs.86,81,454/- shall be refunded to the petitioner within a period of eight (8) weeks from date of receipt of this order - Petition allowed.
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