TMI BlogAnnual Supplement to Foreign Trade Policy, 2004-09 – Changes made in EPCG, DFRC, DEPB and Advance Licencing Schemes – regardingX X X X Extracts X X X X X X X X Extracts X X X X ..... PCG and Advance Licencing Schemes. Some changes have also been incorporated in Vishesh Krishi Upaj Yojana and Served from India Scheme. The details of the amendments made in the Annual Supplement to the FTP 2004-09 are as follows. 2. Vishesh Krishi Upaj Yojana : Benefits under 'Vishesh Krishi Upaj Yojana' have been extended to exports of poultry and dairy products in addition to exports of flowers, fruits, vegetables, minor forest produce and their value added products. Under this Scheme the exporters of these agricultural products get entitlement for duty credit scrip equivalent to 5% of FOB value of the exports. Notification No. 41/2005 - Customs, dated 9.5.2005 has been issued to operationalise the Scheme. Procedural guideline ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers having a minimum covered shopping area of 1000 sq. meters. As per Para 5.4 of FTP, the retailer shall fulfil the export obligation under the Scheme from payments received against 'counter sales' in free foreign exchange through banking channels as per RBI guidelines. (iv) With a view to accelerating exports under the Scheme and to incentivise fast track companies, firms making 75% or more of the exports under the EPCG Scheme (including average level of exports) in half or less than half the original export obligation period, have been freed from the balance export obligation. (Para 5.11 of FTP). (v) As a measure of procedural simplification, the units not registered with Central Excise have been allowed to obtain certificates from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the licences were issued to status holders only. (Para 4.1.10 of FTP) 5.3 Units registered under BIFR sick SSI units have been allowed export obligation (EO) extension as per the rehabilitation package or a period upto five years reckoned from the date of issuance of the advance licence, whichever is higher. ( Para 4.1.9A of the FTP) 5.4 Transfer of duty free material imported or procured under Advance Licence from one unit of the company to another unit of the same company has been allowed with prior intimation to the jurisdictional central excise authority. Earlier prior permission of the jurisdictional central excise authority was required. However, to avail the facility as per Para 4.5 of HBP all such units are required to foll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding financial years export. [ Para 1B.1 (vi)(a) of FTP]. (b) Import of monofilament long line system for tuna fishing at a concessional rate of duty. [ Para 1B.1 (vi)(b) of FTP] (c) A self removal procedure for clearance of seafood waste subject to prescribed wastage norms. [Para 1B.1 (vi)(c) of FTP]. Notification No. 21/2002-Customs, dated 1.3.2002 has been suitably amended by notification No. 47/2005 - Customs, dated 17.5.2005 and notification No. 65/2005 - Customs, dated 12.7.2005 to give effect to the provision referred to at (a) above. The provision at (b) above has been implemented by inserting a new entry at S.No. 508 of notification No. 21/2002 - Customs vide notification No. 37/2005 - Customs, dated 2.5.2005 . The procedur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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