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Notification of procedure to be followed in cases of incorrectly issued simultaneous benefits of Zero Duty EPCG and SHIS in FTP 2009-14 by the Director General of Foreign Trade in exercise of powers conferred under Para 2.04 of the Foreign Trade Policy 2015-2020

DGFT - 30/2015-2020 - Dated:- 8-9-2016 - Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 30/2015-2020 New Delhi dated the 8th September, 2016 Subject: . This Directorate had received references from Directorate of Revenue Intelligence and various exporters, on the subject of incorrectly issued simultaneous benefits of Status Holder Incentive Scheme (SHIS) and Zero Duty EPCG Authorization under Foreign Trade Pol .....

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IS In case of return of SHIS (including splits), the unutilized SHIS (part or whole) may be surrendered by the original holder to whom such SHIS was issued by surrender of the original SHIS scrip. The amount of SHIS that has been utilized, by the original applicant to whom SHIS was issued (who has not transferred the SHIS) shall be refunded In cash (with interest at the rate prescribed under Section 28AA of Customs Act from the date of issue of SHIS by the original applicant. The amount of SHIS .....

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ng the 'prior' return of SHIS. B. Return of zero duty EPCG/Post Export EPCG When zero duty EPCG (i.e. all relevant authorizations) has to be returned, the amount equivalent to the duty forgone shall be refunded in cash with interest at the rate prescribed - (a) Rate in EPCG notification if EPCG returned was correctly availed (b) Rate Under Section 28AA of Customs Act if EPCG returned was incorrectly availed) by the exporter. The unutilized zero duty EPCG (whole or part) may be surrendere .....

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by DGFT. When zero duty Post Export EPCG is to be returned, the authorization(s) shall be surrendered. If any related duty credit scrip(s) against such Zero duty Post Export EPCG authorization(s) have been issued the same if unutilized may be surrendered by the original holder [by surrendering the original duty credit scrips]. The amount of such Post Export EPCG scrip(s) that has been utilized by the original applicant shall be refunded in cash (with interest at the rate prescribed under Section .....

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holder to whom it was issued, shall be allowed for paying the refund part. However, interest part shall be always paid in cash. D. Time Frame A time frame of 9 months from provision of option by DGFT is allowed to exporters for the above. E. No penal action in cases of incorrect issuance On account of different interpretations on the issue in the past, it has been decided in consultation with DOR that any erroneous issuance of SHIS/Zero Duty EPCG Authorisation will be considered bonafide error a .....

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f the benefits subject to certain conditions. (Anup Wadhawan) Director General of Foreign Trade [Issued from F.No. 01/61/180/41/AM-13/PC3(Pt.)] Annexure to Public Notice No. 30 /2015-20 dated 08.09.2016 Different Scenarios of incorrect/simultaneous issuance of SHIS & Zero duty EPCG benefits Glossary: S1 SHIS issued for exports made in year 1 S2 SHIS issued for exports made in year 2 S3 SHIS issued for exports made in year 3 S4 SHIS issued for exports made in year 4 E Zero duty EPCG scheme av .....

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d. S1 E SHIS issued first. Wrong issuance of EPCG If SHIS benefit availed was not already surrendered, or refunded with applicable interest in case utilized. N E S1 will lapse forever i.e. S1* and S1** will not be available in future, as E has been availed. S1 N Scrip has been correctly issued N N Not Relevant Year 3 2011-12 S1* E EPCG issued first- S1* available if EPCG not availed in 2010-11. S2 E EPCG issued first. Wrong issuance of SHIS. S2 will lapse forever i.e. S2* and S2** will not be av .....

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EPCG issued first. S1** available if EPCG not availed in 2010-11. S2* E EPCG issued first. S2* available if EPCG not availed in 2011-12. S3 E EPCG issued first. Wrong insurance of SHIS. S3 will lapse forever i.e. S3* and S3** will not be available in future, as E has been availed. S1**/S2*/S3 E SHIS issued first. S1** available if EPCG not availed in 2010-11. S2* available if EPCG not availed in 2011-12. Wrong issuance of EPCG if S3 availed was not already surrendered or refund with applicable .....

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