TaxTMI 
TaxTMI 
2003-04 EXIM Policy – Changes made in Advance License, DFRC, EPCG, DEPB and DEEC Schemes, etc. – reg
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.... procedural bottlenecks and to boost export trade. Certain duty free concessions have also been extended to status holders and service providers with a view to augment foreign exchange earnings. Details of the new schemes introduced and changes made in the existing schemes are as follows. 2.1 Duty Free Entitlement Credit Certificate to Status holders In terms of Para 3.7.2.1 (vi) of the EXIM Policy, duty free import of capital goods, office equipments, raw materials, parts, consumables etc. other than agricultural and dairy products have been permitted to status holders (i.e. to say Export House, Trading House etc.) who show incremental exports of more than 25% in FOB value ....
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....all be permitted only from sea-ports, airports, ICDs and LCSs which are specified in the notification. In order to monitor revenue outflow under this scheme, the Custom Houses located at the notified places shall send a monthly report containing details of CIF value of goods imported and amount of duty foregone under the Scheme on the 10^th of the succeeding month to JS(DBK). Customs Notification No.53/2003-Cus. dated 1.4.2003 refers in this regard. The first such report shall be sent by 10^th May, 2003. 2.1 Duty Free Certificate Entitlement Credit Certificate to SERVICE PROVIDERS In terms of Para 3.8 of EXIM Policy, service providers (other than hotels) have been permitted duty free imp....
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....onitor revenue outflow under this scheme, the Custom Houses located at the notified places shall send a monthly report containing details of CIF value of goods imported and amount of duty foregone under the Scheme on the 10^th of the succeeding month to JS(DBK). Customs Notification No.54/2003-Cus. dated 1.4.2003 refers in this regard. The first such report shall be sent by 10^th May, 2003. 2.3 Advance License Scheme Advance License Scheme is contained in Chapter 4 and Paras 4.1 And Paras 4.1.1 to 4.1.7A of the EXIM Policy. The Advance License Scheme announced in 2002-07 Policy (on 31.3.2002) has been continued in the same form. In order to facilitate Status holders (Export House, Trading H....
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....itled for benefit of DFRC Scheme. Import of inputs against DFRC License (issued against supplies made under Deemed Export Scheme) shall also be permitted from sea-ports, airports, ICDs and CFSs specified in the DFRC Notification as usual. For this purpose, DFRC licence issued under Deemed Export Scheme shall inter-alia contain details of excise certified invoice number and date with value of supplies in Indian rupees. All other conditions of the DFRC Scheme remain unchanged. In order to monitor revenue outflow under DFRC scheme, the concerned Custom Houses shall send a monthly report containing details of CIF value of goods imported and amount of duty foregone under the Scheme on the 10^th of the succeeding month to JS(DBK). The first su....
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....censes issued for supplies to SEZ units, verification of the DEPB license shall be done in the same manner as specified in earlier DOR Circular No.14/99-Cus. dated 15.3.99 excepting that in case of supplies made to SEZ units, the Bill of Export and other related documents shall be verified. Since the port of registration in respect of such DEPB license would be the place where the receiver SEZ unit is located, import against such DEPB scrips shall be permitted either from the same Custom House or from any other place notified in DEPB Custom Notification No.45/2002 against TRA in terms of para 6 of DOR Circular No.85/99-Cus. dated 23.12.99 and also in terms of DOR Circular No.66/2001-Cus. dated 19.11.2001 when the Custom House of receiver SE....
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....to enable upgradation/modernization of existing CGs. Units holding licences both as manufacturer/merchant exporter and service provider shall be permitted to fulfill export obligation either by export of products specified in the EPCG License (issued to him as manufacturer/merchant exporter) or by earning free foreign exchange for services rendered (against EPCG license issued as service provider). To give an example, if a unit has been issued EPCG License as manufacturer/merchant exporter specifying EO of $ 100 and EPCG License (as service provider) specifying EO of $ 200 then the said unit may also fulfill his total export obligation of $ 300 by exporting resultant product equal to $ 150 and by earning free foreign exchange (on rendering ....