TaxTMI 
TaxTMI 
Regarding Exemption under Focus Market Scheme (FMS).
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....s necessary in the public interest so to do, hereby exempts the goods specified in the Fourth Schedule to the said Central Excise Act, when cleared against a Focus Market Scheme duty credit scrip issued to an exporter by the Regional Authority in accordance with paragraph 3.14 of the Foreign Trade Policy (hereinafter referred to as the said scrip) from the whole of duty of excise leviable thereon under the Fourth Schedule to the Central Excise Act. ]- (i) the whole of the duty of excise leviable thereon under the First Schedule and the Second Schedule to the Central Excise Tariff Act, 1985 (5 of 1986); (ii) the whole of the additional duty of excise leviabl....
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.... Trade Policy; (iii) Exports through transshipment, meaning thereby that exports originating in third country but transshipped through India; (iv) Deemed Exports; (v) Exports made by Special Economic Zone units or Special Economic Zone products exported through Domestic Tariff Area units; (vi) Items, which are restricted or prohibited for export under Schedule-2 of Export Policy in ITC (HS); &....
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....ton Yarn; (xix) Export which are subject to Minimum Export Price or Export Duty:] ^4[Provided further that for the purpose of calculation of export performance or for computation of entitlement under paragraph 3.14.4 or paragraph 3.14.5 of the Foreign Trade Policy, the incremental growth shall be in respect of each exporter [Importer Exporter Code (IEC) holder] without any scope of combining the export for group company or for transferring export performance from any other IEC holder and the incremental growth shall be in terms of freely convertible currency to the designated markets. The following categories of exports shall not be counted for calculation of export performa....
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....edures, Volume I; (c) that the benefits under this notification shall not be available to goods or items, the imports of which are not permitted against the said scrip; (d) that the said scrip is registered with the Customs authority at the port of registration (hereinafter referred as the said Customs authority); (e) that the holder of the scrip, who may either be the person to whom the scrip was originally issued or a transferee-holder, presents the said scrip to the said Customs authority along with a letter or proforma invoice from the supplier or manufacturer indicating details of i....
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.... keeps a record of such clearances; (i) that the manufacturer retains a copy of the said scrip, debited by the said Customs authority and endorsed by the said Officer and duly attested by the holder of the scrip, in support of the clearance under this notification; and ^9[ (j) that the said holder of the scrip, to whom the goods were cleared, shall be entitled to avail the drawback or CENVAT credit of the duties of excise leviable under the Fourth Schedule to the Central Excise Act, 1944, against the amount debited in the said scrip and validated at the time of clearance.] Explanation - For the purposes of....
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....ntral Excise February 24, 2014, "Cotton Yarn (for the paragraph 3.14.5 of the Foreign Trade Policy);" 8. Substituted vide Not. 17/2017 - Dated 30-6-2017, w.e.f. 1st day of July, 2017 before it was read as, "In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 (58 of 1957) and sub-section (3) of section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978 (40 of 1978), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the First Schedule and the Second Schedu....