Focus Market Scheme exemption: excise duties waived on specified goods cleared against duty credit scrip, subject to procedural conditions. Goods specified in the Schedules are exempt from excise and specified additional duties when cleared against a Focus Market Scheme duty credit scrip issued under paragraph 3.14 of the Foreign Trade Policy, subject to exclusions and procedural safeguards: scrip registration with Customs, presentation with supplier invoice details, Customs debiting duties on the scrip and notifying the Central Excise Officer, holder's undertaking to pay short debits with interest, endorsement and validation by the Central Excise Officer, retention of attested debited scrip copies, and entitlement to drawback or CENVAT credit against the debited amount.
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Provisions expressly mentioned in the judgment/order text.
Focus Market Scheme exemption: excise duties waived on specified goods cleared against duty credit scrip, subject to procedural conditions.
Goods specified in the Schedules are exempt from excise and specified additional duties when cleared against a Focus Market Scheme duty credit scrip issued under paragraph 3.14 of the Foreign Trade Policy, subject to exclusions and procedural safeguards: scrip registration with Customs, presentation with supplier invoice details, Customs debiting duties on the scrip and notifying the Central Excise Officer, holder's undertaking to pay short debits with interest, endorsement and validation by the Central Excise Officer, retention of attested debited scrip copies, and entitlement to drawback or CENVAT credit against the debited amount.
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