TaxTMI 
TaxTMI 
Regarding Exemption under Focus Market Scheme (FMS)
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....erson located in the taxable territory from the whole of the service tax leviable thereon under section 66B of the said Act. 2. Application. - This notification shall be applicable to the 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. 3. The exemption shall be subject to the following conditions, namely:- (a) that the scrip is issued against exports to the countries notified by the Government of India in Appendix 37C of the Handbook of Procedures, ^1[Volume I in terms of entitlement under paragraph 3.14.2 or against exports to the countries or regions specified in paragraph 3.14.4(e) or paragraph 3.14.5(e) of th....
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.... stones; (x) Gold, silver, platinum and other precious metals in any form, including plain and studded jewellery; (xi) Ores and Concentrates, of all types and in all forms; (xii) Cereals, of all types; (xiii) the Sugar, of all types and in all forms; (xiv) Crude or Petroleum oil and Crude or Petroleum based products covered under ITC HS codes 2709 to 2715, of all types and in all forms; and (xv) the export of milk and milk products covered under ITC HS Codes 0401 to 0406, 19011001, 19011....
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.... (ix) Sugar of all types and all forms; (x) Crude or petroleum oil and crude or primary and base products of all types and all formulations; (xi) Export of milk and milk products; (xii) Export performance made by one exporter on behalf of other exporter; (xiii) Supplies made to SEZ units; (xiv) Items, export of which requires an export authorisation (except SCOMET); (xv) Export of Meat and Meat Products; (xvi) Exports to Singapore, UAE and Hong Kong, (xvii) SEZ or EOU or EHTP or BTP or FTWZ products exported through DTA units;] ^5[(xviii) Cotton (for the paragraph 3.14.5 of the Foreign Trade Policy); (xix) ^6[***] (xx) Export which are subject to Minimum Export Price or Export Duty (....
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....f debit of service tax leviable, in the scrip, by the said Customs Authority shall be taken as the date of payment of service tax; (g) that in case the service tax leviable as per the point of taxation determined in terms of the Point of Taxation Rules, 2011 is prior to date of debit or that the rate of tax determined in terms of rule 4 of the Point of Taxation of Rules, 2011, is in excess of the rate of service tax mentioned in the invoice, bill or challan, as the case may be, the holder of the scrip shall pay such interest or short-paid service tax along with interest, as the case may be; (h) that the holder of the scrip presents the scrip debited by the said Customs Authority within thirty da....
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....olicy, 2009-14, published by the Government of India in the Ministry of Commerce and Industry, vide notification No.01 (RE 2012)/2009-2014, dated the 5th June, 2012, as amended from time to time. (B) "Handbook of Procedures Volume 1" means the Handbook of Procedures Volume 1, 2009-14, published by the Government of India in the Ministry of Commerce and Industry, vide Public Notice No.01 (RE 2012)/2009-2014, dated the 5th June, 2012, as amended from time to time. (C) "Point of taxation" shall have the same meaning assigned to it in clause (e) of rule 2 of the Point of Taxation Rules, 2011. (D) "Regional Authority" means the authority competent to grant a duty credit scrip u....