DGFT Public Notice No 105 Dt 27/03/12

[Avinash Bhavsar]

Dear Sir,

Kindly give details of DGFT Public Notice No 105 Dt 27/03/12.

 

 

[YAGAY andSUN]

What is this trade all about?  Is it a trade notice or notification as I could not findout any such information.  Please clarify.

[YAGAY andSUN]

It's a Public Notice not the Trade notice and it's about Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD). 

PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY         

(PART-I, SECTION-1)

GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY

DEPARTMENT OF COMMERCE

PUBLIC NOTICE No.  105 / 2009-14(RE 2010)

NEW DELHI: the    27^th  March, 2012

Subject: Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD).

            In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby replaces Paragraph 2.13.2A  of the Handbook of Procedures (Vol.1), 2009-14 by the following:-

“Only for the purpose of utilisation of re-credit of 4% Special Additional Duty (SAD) of customs,  the freely transferable duty credit scrips (including DEPB), shall be deemed to have been revalidated till 30.6.2012.  No further endorsement of such scrips by the respective RA shall be required under the following circumstances:-

 (i)        if the endorsement has been made by Regional Authority on or before 15.9.2011 but the re-credit remains unutilised;

Or

 (ii)      if the consolidated certificate (Credit Note) have been issued by Customs between 1.9.2011 to 30.4.2012.  In such scrips, the amount indicated in the consolidated certificate by customs shall be deemed to have been recredited.”

Effect of Public Notice:

This will reduce the transaction cost and procedural burden as it will facilitate utilisation of re-credit without requiring it to be presented to  RA of DGFT for an endorsement of revalidation.                                          

Sd/-

            (Anup K. Pujari)

Director General of Foreign Trade and

E-mail: [email protected]

 

(Issued from File. No. 01/94/180/DEPB-SAD recredit/AM10/PC-4)

 

[Avinash Bhavsar]

Dear Pradeep Sir,

Sorry Sir I made mistake,

Thanks for reply

Avinash Bhavsar

 

 

AI Summary

Revalidation of duty credit scrips for Special Additional Duty deemed extended, allowing utilisation without further RA endorsement. The Director General of Foreign Trade deems freely transferable duty credit scrips (including DEPB) revalidated until 30.6.2012 solely for utilisation of re-credit of Special Additional Duty. No further Regional Authority endorsement is required where the RA endorsed the scrip on or before 15.9.2011 but re-credit remained unutilised, or where customs issued a consolidated certificate between 1.9.2011 and 30.4.2012, with the amount in that certificate deemed recredited.