Export procedure amendment: Incentive rules revised-SHIS exclusions, EPCG import adjustments, duty credit scrip validity shortened. Amendment to HBP Vol. I (RE-2012)/2009-14 (effective 5.6.2012) revises operative export incentive provisions: adds wording on re-credit utilisation; excludes foreign-exchange from shipping lines on routes not touching India from SFIS; bars SHIS claims where Zero Duty EPCG authorisation was availed in the same year; reduces duty credit scrip validity to 18 months with limited revalidation; mandates a declaration of intent on Free Shipping Bills for Chapter 3 benefits with a one-month grace for later inclusions; expands port lists; permits automatic acceptance of up to 10% excess EPCG imports subject to fee and proportional EO enhancement; and conditions grant of duty credit scrip on CVD on a Central Excise certificate regarding Cenvat credit, with enumerated exceptions.
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Amendment to HBP Vol. I (RE-2012)/2009-14 (effective 5.6.2012) revises operative export incentive provisions: adds wording on re-credit utilisation; excludes foreign-exchange from shipping lines on routes not touching India from SFIS; bars SHIS claims where Zero Duty EPCG authorisation was availed in the same year; reduces duty credit scrip validity to 18 months with limited revalidation; mandates a declaration of intent on Free Shipping Bills for Chapter 3 benefits with a one-month grace for later inclusions; expands port lists; permits automatic acceptance of up to 10% excess EPCG imports subject to fee and proportional EO enhancement; and conditions grant of duty credit scrip on CVD on a Central Excise certificate regarding Cenvat credit, with enumerated exceptions.
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