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AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
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Issues: Whether imported capital goods supplied to a non-mega power project under advance authorisation could be treated as deemed exports, and whether the definition of "manufacture" in the Foreign Trade Policy could be invoked to treat such imported goods as goods manufactured in India for the purpose of export obligation discharge certificate.
Analysis: The Foreign Trade Policy treated only specified supplies by main or sub-contractors as deemed exports, and that benefit was available only where the goods were manufactured in India. The policy definition of "manufacture" in paragraph 9.36 could not override the express condition in paragraph 8.2 that the supplied goods must be manufactured in India. The circular issued by the Directorate General of Foreign Trade clarified that where boilers, turbines or generators are imported and supplied as such, deemed export benefits are not admissible. The project was held to be an immovable power plant, and the petitioner had merely imported capital goods and supplied them as such, without manufacturing them in India. There was also no estoppel against statute.
Conclusion: The claim for deemed export benefit and issuance of the export obligation discharge certificate was rejected. The impugned rejection and demand were upheld, against the assessee.
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