TMI BlogRegarding exemption under Focus Product Scheme (FPS)X X X X Extracts X X X X X X X X Extracts X X X X ..... scrip by a person located in the taxable 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 Product Scheme duty credit scrip issued to an exporter by the Regional Authority in accordance with paragraph 3.15 of the Foreign Trade Policy. 3. The exemption shall be subject to the following conditions, namely:- (a) that the scrip is issued against exports of the products listed by the Government of India in Appendix 37D of the Handbook of Procedures, Volume I: Provided that the following categories of exports (specified in paragraph 3.17.2 of the Foreign Trade Policy ) shall not be counted for ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xcise 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 the debits already made under notification number 92/2009-Customs, dated the 11th September, 2009 , notification No.29/2012-Central Excise, dated the 9th July, 2012 and this exemption, shall debit the service tax leviable, but for this exemption in or on the reverse of the scrip and also mention the necessary details thereon, updates its own records and sends written advice of these actions to the said Officer; (f) that the date of debit of service tax leviable, in the scrip, by the said Custo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 under this notification shall be recoverable under the provisions of the said Act and the rules made there under. Explanation - For the purposes of this notification,- (A) Foreign Trade Policy means the Foreign Trade Policy, 2009-14 , published by the Government of India in the Ministry of Commerce and Industry, vide notification No.01 (RE 2012)/2009-2014, dated the 5th June, 2012 , as amended from time to time. (B) Handbo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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