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TMI BlogRegarding Exemption under Focus Market Scheme (FMS)X X X X Extracts X X X X X X X X Extracts X X X X ..... territory from the whole of the service tax leviable thereon under section 66B of the said Act. 2. Application. - This notification shall be applicable to the Focus Market Scheme duty credit scrip issued to an exporter by the Regional Authority in accordance with paragraph 3.14 of the Foreign Trade Policy. 3. The exemption shall be subject to the following conditions, namely:- (a) that the scrip is issued against exports to the countries notified by the Government of India in Appendix 37C of the Handbook of Procedures, 1[Volume I in terms of entitlement under paragraph 3.14.2 or against exports to the countries or regions specified in paragraph 3.14.4(e) or paragraph 3.14.5(e) of the Foreign Trade Policy, as the case may be]: Provide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder ITC HS Codes 0401 to 0406, 19011001, 19011010, 2105 and 3501; 4[(xvi) Export of Meat and Meat Products; (xvii) Export of Cotton; (xviii) Export of Cotton Yarn; (xix) Export which are subject to Minimum Export Price or Export Duty:] 3[Provided further that for the purpose of calculation of export performance or for computation of entitlement under paragraph 3.14.4 or paragraph 3.14.5 of the Foreign Trade Policy, the incremental growth shall be in respect of each exporter [Importer Exporter Code (IEC) holder] without any scope of combining the export for group company or for transferring export performance from any other IEC holder and the incremental growth shall be in terms of freely convertible currency to the designated mark ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the holder of the scrip, to whom taxable services are provided or agreed to be provided shall be located in the taxable territory; (d) that the holder of the scrip who may either be the person to whom the scrip was originally issued or a transferee-holder, presents the scrip to the said Customs Authority along with a letter and an invoice or challan or bill, as the case may be, issued under rule 4A of the Service Tax Rules, 1994 by the service provider indicating details of his jurisdictional Central Excise Officer (hereinafter referred to as the said Officer) and the description, value of the taxable service provided or agreed to be provided and service tax leviable thereon; (e) that the said Customs Authority, taking into account t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce tax leviable, which were debited by the said Customs Authority, and keep a record of payment of such service tax and interest, if any; (j) that the service provider retains a copy of the scrip, debited by the said Customs Authority and verified by the said Officer and duly attested by the holder of the scrip, in support of the provision of taxable services under this notification; and (k) that the said holder of the scrip, to whom the taxable services were provided or agreed to be provided shall be entitled to avail the drawback or CENVAT credit of the service tax leviable under section 66B of the said Act, against the service tax debited in the scrip and validated by the said Officer. 4. Any amount due to the Central Government un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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