Incentive (Under Focus Market Scheme) received from Directorate of Foreign Trade

[SURYAKANT MITHBAVKAR]

We are manufacture & exporter of Pharmaceutical Machinery. we have received  Incentive under focus market on goods exported by us.

 Kindly let us know can we adjusted this duty (Incentive) against payment of our excise duty on domestic sales.

If yes whether we have take any permission form excise department.

 

 

[PAWAN KUMAR]

The scrip which awarded to you as FMS scrip can only be utilized towards procurement of goods whether from domestic market or from International market, The subject scrip can not be utilized towards your statutory liabilities on sales.

AI Summary

FMS incentive scrip: usable only for procurement of goods, not for discharging excise duty liabilities on sales. An FMS incentive scrip awarded for exports is usable only for procurement of goods from domestic or international suppliers and cannot be applied to discharge excise duty or other statutory liabilities on sales.