Status Holder Incentive Scrip (SHIS)

[Asked by Guest]

Dear Sir,

We are a textile machinery manufacturer, and some of our customers required machines under SHIS.

As per their opinion, if we sell them the machines under SHIS, they didn't pay us excise amount,but instead of that they give us SHIS certificate, so my question is then from where we will pay excise to government?

Please Help...Thanks in advance...

 

AI Summary

Status Holder Incentive Scrip permits duty free clearance of specified capital goods against a duty credit scrip, subject to conditions.
Status Holder Incentive Scrip (SHIS) allows specified capital goods to be cleared free of central excise and specified additional duties when presented against a duty credit scrip issued to a Status Holder under the Foreign Trade Policy, subject to conditions including registration with Customs, Customs debiting of notional duties on the scrip, an undertaking to the jurisdictional Central Excise Officer to pay short-debits or duties for non compliance with actual user conditions, endorsement and validation by the Officer, retention of debited and endorsed scrip by the manufacturer, and entitlement of the holder to drawback or CENVAT credit corresponding to duties debited on the scrip.