Deemed export benefits on supplies made to Projects financed by multilateral or bilateral agencies / funds covered under Para 8.2 (d) of Foreign Trade Policy other than World Bank and Asian Development Bank
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Deemed export benefits clarified: DEA notified project supplies qualify for advance licence and drawback but face excise limits. Supplies to projects financed by agencies/funds notified by the Department of Economic Affairs and listed in Appendix 33 qualify for deemed export benefits consisting of advance licences for deemed exports and deemed export drawback. Such supplies do not receive excise duty exemption under the excise notification cited in the policy. Refund of terminal excise duty is available only where the supplies are to DEA-notified agencies covered by the handbook appendix and Additional Customs Duty (CVD) on import of the goods is zero. Other procedural conditions for deemed export benefits continue to apply.
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Provisions expressly mentioned in the judgment/order text.
Deemed export benefits clarified: DEA notified project supplies qualify for advance licence and drawback but face excise limits.
Supplies to projects financed by agencies/funds notified by the Department of Economic Affairs and listed in Appendix 33 qualify for deemed export benefits consisting of advance licences for deemed exports and deemed export drawback. Such supplies do not receive excise duty exemption under the excise notification cited in the policy. Refund of terminal excise duty is available only where the supplies are to DEA-notified agencies covered by the handbook appendix and Additional Customs Duty (CVD) on import of the goods is zero. Other procedural conditions for deemed export benefits continue to apply.
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