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2018 (1) TMI 777 - HC - CustomsFocus Product Scheme (FPS) - exports of industrial valves - case of Revenue is that such benefit is not available for export of industrial valves and is restricted only to bicycle parts - products as specified at serial no. 269, in Appendix 37D of the Handbook of Procedures - According to the respondents, industrial valves were not covered under serial no. 269 of Appendix 37D of Table 1. Held that: - admittedly, export of goods covered under ITC (HS) Code 8481 is eligible for benefits under the MEIS. In the past, respondents had readily accepted that the industrial valves were covered under the products specified against serial no. 269 of Appendix 37D and were eligible for benefits under the FPS. Such benefits are also available under MEIS, which came into effect from 01.04.2015 and has effectively replaced the FPS - In this view, it would be difficult to accept that the intention of the Central Government was to not grant export incentives to industrial valves and restrict the same only to valves used in bicycles for a short intervening period. It is clarified that industrial valves falls squarely within the goods covered under serial no. 269 of Appendix 37D - The impugned notice cannot be sustained - petition allowed.
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