TMI BlogPROMOTIONAL MEASURESX X X X Extracts X X X X X X X X Extracts X X X X ..... All newly issued Status certificates shall be valid from 1stApril of the year during which application for recognition was filed. For renewals, application filed before expiry of current validity, renewals shall have a validity commencing from 1stApril of next licensing year, otherwise validity period shall be 1stApril of year during which application was filed. 1 All Status Certificates shall be valid for a period of 5 years reckoned from the 1st April of the relevant year. All Status Certificates valid beyond 31.3.2009 shall continue to remain in force, in case provisions of Foreign Trade Policy (2009-14 continue to recognize the status. Pending the finalization of the applications for grant of recognition, existing status holders who have applied for recognition before the expiry of their status, shall have a grace period of 6 months. During this grace period of 6 months such status holders shall continue to be recognized as Status holders even after the expiry of earlier Status Certificate i.e. till September end, unless their applications are finally rejected or recognition granted as once again the case may be. 3.2.3 Deleted To 3.2.5 Maintenance of Acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , would be ineligible. For calculation of entitlement, following shall not be taken into account. (a) Foreign Exchange remittances: I. related to Financial Services Sector 1. Raising of all types of foreign currency Loans; 2. Export proceeds realization of clients; 3. Issuance of Foreign Equity through ADRs / GDRs or other similar instruments; 4. Issuance of foreign currency Bonds; 5. Sale of securities and other financial instruments; 6. Other receivables not connected with services rendered by financial institutions; and II. earned through contract / regular employment abroad (e.g. labour remittances); (b) Payments for services received from EEFC Account; (c) Foreign exchange turnover by Healthcare Institutions like equity participation, donations etc. (However, remittances received on account of medical treatment, surgery, testing, consultancy and health care provided by the institution shall be eligible); (d) Foreign exchange turnover by Educational Institutions like equity participation, donations etc. (However remittances received on account of the course fees and consultancy provided by the institution shall be eligible); (e) Export turnover rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnexure I. Application fee shall be the same as it is for VKGUY benefits under Para 3.8.2. 9 The allocation of duty credit scrips by RA, CLA, New Delhi, under Para 3.8.6 of FTP (RE2007), shall be done proportionate to the eligible claims of individual applications, vis- -vis the total eligible claims of all the status holders put together, received for each half year (Apr-Sep 2007 / Oct-Mar 2008) period, in such a way that the total benefits granted for all status holders put together does not exceed the limit prescribed for each half year in Para 3.8.6 of FTP (RE2007). Accordingly if the total eligible claim of all the status holders put together is, say, Rs 200 Cr, each applicant status holder would be granted one-fourth of the claim an applicant is eligible for. FOCUS MARKET SCHEME (FMS) 3.20 Policy pertaining to FMS is given in Chapter 3 of FTP. Notified Markets are listed in Appendix 37C. 3.20.1 An application for exports made during 2006-07 and exports made during 2007-08 shall be filed separately, with RA concerned in ANF 3D along with documents prescribed therein. An application shall contain no more than 50 shipping bills. For exporter with more th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ong with documents prescribed therein. An application shall contain no more than 50 shipping bills. For exporter with more than 50 shipping bills in one year, multiple applications can be filed and supplementary cut (Para 9.4 of HBP v1) shall not be applicable. Shipments from EDI Ports and Non-EDI Ports cannot be clubbed in one application. Port of registration for EDI enabled ports shall be any one EDI port of exports, as per the choice of the applicant. In case of exports through non-EDI port, the port of registration shall be the relevant non EDI port of exports. Accordingly separate application shall be filed for each non EDI port. Last date for filing application shall be 6 months from the date of realization. Eligibility of Focus Market (as in Appendix 37C) shall be determined from date of export as per Para 9.12 of HBP v1. However, exports for which realizations have already been received till the date of this Public Notice, the last date of filing application shall be 30.7.2008. 3.21.2 For direct as well as third party exports, the Export documents viz Export Order, Invoice, GR form, Bank Realization Certificate should be in the name of applicant only. 3.21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmitted with same port of registration as appearing on the original scrip. The above procedure shall be applicable only in respect of EDI enabled ports. In case of exports through non-EDI ports, the facility of splits shall not be allowed, after issue of scrip. Import from private / public bonded warehouses 3.23.5 Entitlement can be used for import from private / public bonded warehouses subject to fulfillment of paragraph 2.28 of FTP and terms and conditions of DoR notification. Re-export of defective / unfit goods 3.23.6 Goods imported and are found defective or unfit for use, may be re-exported, as per DoR guidelines. Where Duty Credit scrip has been used for imports, Customs shall issue a certificate containing particulars of scrip used, date of import of re-exported goods and amount debited while importing such goods. Based on this certificate, upon application, a fresh Scrip shall be issued by concerned RA to the extent of 98% of debited amount, with same port of registration and valid for a period equivalent to balance period available on date of import of the defective / unfit goods. Validity Period Revalidation 3.23.7 Duty Credit scrip shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -March 2007 period, last date for filing application shall be 31st March 2008. This shall include all shipments exported on or after 1.4.2006, but for which realization has been received till 31.3.2007. Exporters can file only one supplementary claim each, in case some shipments have not been included in original claim for April- September and October-March periods. This shall attract supplementary cut on claim amount, after ensuring that shipment has not been included in earlier claim. In case supplementary claim is filed late, late cut shall also be imposed. This shall apply even to exports made w.e.f 1.4.2006. The above procedure shall be applicable only in respect of EDI enabled ports. However, in case of exports through non-EDI ports, separate application shall be filed consolidating all shipments for each port. Such application for non-EDI shipments shall not be treated as supplementary application even if periodicity (Apr-Sept or Oct- Mar periods) is repeated." Above has been inserted vide Public Notice No. 73/2007 dated 24/10/2007 3. Has been substituted vide Public Notice No. 103/2007 dated 17/01/2008 before it was read as, "Last date for filing applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bed therein. Application for obtaining Duty Credit scrip for incremental growth in exports during current licensing year 2007-08 shall be filed within a period of twelve months after expiry of current licensing year. The above procedure shall be applicable only in respect of EDI enabled ports. However, in case of exports through non-EDI ports, separate application shall be filed consolidating all shipments for each port. Such application for non-EDI shipments shall not be treated as supplementary application even if periodicity (Apr-Sept or Oct- Mar periods) is repeated." Above has been inserted vide Public Notice No. 73/2007 dated 24/10/2007 5. Has been inserted vide Public Notice No. 73/2007 dated 24/10/2007 6. Has been inserted vide Public Notice No. 73/2007 dated 24/10/2007 7. Has been inserted vide Public Notice No. 100/2007 dated 10/01/2008 8. Has been added vide Public Notice No. 93(RE-2007)/ 2004-2009 dated 27/12/2007 9. Has been added vide Public Notice No. 101(RE-2007)/ 2004-2009 dated 14/1/2008 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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