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Employees sent on deputation to subsidiary/ associate companies (Service Tax)    *    CIT u/s 263 has simply directed the AO, without satisfying himself, to verify whether the bifurcation made by assessee was with a view to reduce tax or not. No infirmity for offering the tax on sale of brands as LTCG. There is no merit in CITís observation for treating the same as business income. - Tri    *    Cenvat credit on water treatment plant    *    Duty drawback    *    MEIS procedure for export    *    Subcontract Manufacturing by 100% EOU for a Main contractor (Outside India) who is in contract with an Indian Brand Owner for supply of Ready Made garments    *    CENVAT CREDIT    *    After GST - Machinery booking on commission    *    New Issue / query = Export against the INR Purchase Order    *    Where supply of goods without transfer to title has to be treated as service, whether on importation of such goods i.e. deemed services, customs duty and GST would be levied simultaneously?    *    First stage dealer    *    determination of assessable value for job work transaction    *    Cabinet approves Agreement and the Protocol between India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion    *    Appointment of Common Adjudicating Authority by DGRI    *    Boarding and Rummaging of vessels, aircrafts and vehicles    *    service tax payament-reg    *    Education Cess / Secondary & Higher Education Cess    *    Seeks to further amend Notification No. 96/2008-Customs dated 13.08.2008 so as to include 'Republic of Guinea-Bissau' in the list of countries eligible for preferential tariff under the said notification    *    Amends Notification No.22/2003-Central Excise dated 31.3.2003    *    Regarding Filing of returns through digital signature
Home News Commentaries / Editorials Month 9 2008 2008 (9)
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Supply from DTA units to SEZ units - amendment in the provisions relating to DEPB

September 20, 2008
  • News

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."



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