TaxTMI 
TaxTMI 
Procedure for debiting the original scrips issued under Served from India Scheme (SFIS) for payment of central excise duty in the case of domestic procurement of goods
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....FIS) for payment of central excise duty in the case of domestic procurement of goods Kind attention is invited to paragraph 3.6.4.5 of the Foreign Trade Policy, 2004-09 dealing with imports under Served from India Scheme (SFIS). In terms of this paragraph, duty credit scrip issued under SFIS can be used for import of any capital goods including spares, office equipment, professional equipment, ....
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....ent of Revenue in this behalf for procurement from domestic sources of such inputs that are permitted for imports under Para 3.6.4.5. Accordingly, notification No.34/2006-CE dated 14.6.2006 has been issued to permit domestic procurement of goods against scrips issued under SFIS without payment of central excise duty. 2. References have been received from Trade and DGFT to prescribe a procedure ....
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....Customs authorities at the Port of Registration along with the details of the last debit entry, if any when the scrip is received first time. The said officer shall, after verifying that the scrip is valid for import and sufficient balance is available in the scrip to debit the duties leviable on the goods, debit the original scrip and also endorse the name and address of the supplier/manufacturer....
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....ation of debit by Excise to the Customs authorities at the Port of Registration before further clearances. v) The Customs authorities at the port of registration shall permit duty debit on imports after verifying the details of debit, if any done by Central Excise authorities. 3. The above procedure would obviate the need for issue of TRA by the Customs authorities at the Port of Registratio....