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TMI BlogAmendments in Chapter 3 of Foreign Trade Policy 2009-14X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.14.5 of Foreign Trade Policy 2009-14 is added as below: "3.14.5 Incremental Exports Incentivisation Scheme (IEIS) on annual basis" Entitlement (a) Objective of the Scheme is to incentivize incremental exports. (b) An IEC holder would be entitled for a duty credit scrip @ 2% on the incremental growth (achieved by the IEC holder) during the current year (for example, say for the period 01.04.2013 to 31.3.2014) compared to the previous year (for example, say for the period from 01.04.2012 to 31.3.2013) on the FOB value of exports. Incremental growth shall be in respect of each exporter (IEC holder) without any scope for combining the exports for Group Company. (c) Incentive will be admissible only if the IEC holder has achieved growth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meat and Meat Products. (xvi) Exports to Singapore, UAE and Hong Kong. Special Provision (e) The scheme is region specific and will cover exports to USA, Europe and Asian countries only. In addition export to 53 countries in Latin America and Africa ( as mentioned in Public Notice 3 dated 18th April 2013 ) will be entitled to this benefit. Disclaimer provisions of para 3.17.10 (b) of FTP shall not be admissible. This benefit will be over and above any benefit being claimed by the exporter under any of the Chapter 3 Schemes. Utilisation of Scrip (f) The duty credit scrip will be freely transferable. Such scrips shall also be eligible for domestic sourcing and for payment of Service Tax as per para 3.17.5 of Foreign Trade Policy 2009-14. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Such transferability would have to be endorsed on the Agri Infrastructure Incentive Scrip from relevant RA." 8. Following is added at the end of Para 3.16.3 of Foreign Trade Policy 2009-14: "SHIS can be transferred to a manufacturer group company of the scrip holder even though the group company is not a status holder. Group company is defined in para 9.28 of FTP. Such transfer will have to be endorsed by relevant RA." 9. Para 3.17.2 (i) of Foreign Trade Policy 2009-14 stands deleted with immediate effect. 10. Sub para (d) is added after 3.17.5(c): "Duty credit scrips issued under FPS, FMS and VKGUY can be used for payment of Service Tax. Scrip holder shall be entitled to avail drawback benefits or CENVAT credit of the Service Tax debi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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