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

Pharmaceutical Machinery Exporter Cannot Use Focus Market Scheme Incentive to Offset Excise Duty on Domestic Sales A manufacturer and exporter of pharmaceutical machinery inquired whether an incentive received under the Focus Market Scheme (FMS) from the Directorate of Foreign Trade could be adjusted against excise duty on domestic sales. The response clarified that the FMS scrip can only be used for procuring goods from domestic or international markets and cannot be utilized to offset statutory liabilities on sales.