TMI Blog2023 (2) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... % to which the petitioner was entitled - HELD THAT:- The interpretation of the policy itself must be in tune with the avowed objectives of the various schemes that have been formulated under the policy. The Served from India Scheme has been outlined from Clause 3.12 of the Foreign Trade Policy and the avowed objective is ' to accelerate growth in export of services so as to create a powerful and unique 'Served From India' brand, instantly recognized and respected world over.' Needless to say financial year qua a revenue enactment/policy is always understood to mean the 1st of April of the relevant year till the 31st of March of the year to follow. In the present case, no doubt the Foreign Trade Policy for the period 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e benefits of this scheme. 2.The petitioner had applied on 15.10.2010 for the benefits of the scheme in regard to the foreign exchange earnings during the period 01.04.2009 to 31.03.2010. The petitioner was issued scrips for the period 01.04.2008 to 31.03.2009, amounting to a sum of Rs.2,66,51,000/-. The validity of the scrips was till 18.10.2011. 3.The petitioner received a notice on 06.12.2013 that it had been granted excess duty credit in respect of the scrips issued between 01.04.2009 to 26.08.2009 amounting to a sum of Rs.86,81,454/-. The petitioner was called upon to refund the excess duty credit allegedly granted along with applicable interest within 15 days from the date of that letter under threat of coercive action under the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.50,00,000.00 2 0410148370/Dated 30.07.2013 Rs.36,85,133.00 We had made a representation to debit the expired unutilized licenses Nos.0410108648/22/00 Dt.19.10.2009(SEA), 0410108649/22/00 Dt.19.10.2009 (AIR) and 0410108650/22/00 Dt.19.10.2009 (SEA) for adjusting Rs.86,81,454.00. In the event of the above is considered by DGFT New Delhi, we would request you to reinstate the value in our Scrip Nos.0410148368 dated 30.07.2013 and 0410148370 dated 30.07.2013. Your goodself also appreciated that we are in the midst two major projects are underway and thus the imports of the essential goods for the projects is required. Henc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e position that the petitioner is liable not just for the refund of excess duty credit, but also for interest. 8.The reasoning set forth is an objection by the Director General of Audit (Central) (CRAP-II) under the Comptroller and Auditor General, to the effect that Star Hotels and other service providers in the tourism sector were entitled to SFIS benefits of only 5% duty credit upto 26.08.2009. It is only on and from 27.08.2009 that the eligibility stood enhanced to 10%. The impugned order thus states that the credits scrips that were issued to the petitioner on 21.02.2011 had inadvertently computed the credit at 10% instead of 5% to which the petitioner was entitled. The petitioner has admittedly complied with the surrender of scrips ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod beginning on 1st of April of a year and ending on 31st of March of the following year. 13.Having heard the rival contentions of Mr.Gautam S.Raman, learned counsel for the petitioner and Mr.T.V.Krishnamachari, learned counsel for the respondents, I am of the considered view that the petitioner must succeed. 14.The interpretation of the policy itself must be in tune with the avowed objectives of the various schemes that have been formulated under the policy. The Served from India Scheme has been outlined from Clause 3.12 of the Foreign Trade Policy and the avowed objective is ' to accelerate growth in export of services so as to create a powerful and unique 'Served From India' brand, instantly recognized and respected ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd imports upto 26th August 2009 shall be accordingly governed by the FTP 2004- 2009. The Foreign Trade Policy, 2009-2014, incorporating the Annual Supplement as updated on 23rd August, 2010 shall come into force with effect from 23rd August, 2010, unless otherwise specified.' 18.In this case, we are concerned with specified imports under the Served From India scheme which must stand on a separate pedestal. As far as the eneitlement to the imports/exports under this scheme are concerned, the entitlement is categoric to the effect that the service provider is entitled to duty credit scrips equivalent to 10% earned during current financial year. 19.Needless to say that the policy must not just be seen in the context of the spi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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