Incorrect simultaneous issuance of dual benefit of Zero duty EPCG and SHIS to exporters under the FTP 2009-14 - option providing flexibility to return either benefit
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Simultaneous benefit of EPCG and SHIS: exporters may choose one scheme and regularise the other under prescribed repayment rules. DGFT permits exporters who were incorrectly issued both SHIS and Zero Duty EPCG under FTP 2009-14 to choose one scheme and regularise the other: return of SHIS requires surrender of original scrips and cash refund with interest for utilised amounts; return or conversion of Zero Duty EPCG requires surrender or payment of differential duties plus interest, with utilised or transferred scrips treated as utilised for refund and interest purposes. Payment mechanics allow principal debiting to valid duty credit or SHIS scrips but require interest in cash; a limited timeframe to exercise the option is provided and no penal action will be taken for erroneous issuance.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Simultaneous benefit of EPCG and SHIS: exporters may choose one scheme and regularise the other under prescribed repayment rules.
DGFT permits exporters who were incorrectly issued both SHIS and Zero Duty EPCG under FTP 2009-14 to choose one scheme and regularise the other: return of SHIS requires surrender of original scrips and cash refund with interest for utilised amounts; return or conversion of Zero Duty EPCG requires surrender or payment of differential duties plus interest, with utilised or transferred scrips treated as utilised for refund and interest purposes. Payment mechanics allow principal debiting to valid duty credit or SHIS scrips but require interest in cash; a limited timeframe to exercise the option is provided and no penal action will be taken for erroneous issuance.
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