2015 (11) TMI 1229

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....hnical Textiles" which are described in the relevant policy document as Woven fabrics of Synthetic Filament Yarn. It is one of the products under the Focus Products Scheme [FPS] of the Central Government. It is under Table-1 which relates to focus products and falls under serial no.33 and ITC [HS code 5407]. Under the Foreign Trade Policy 2009-2014, against export of these notified products the importer would be entitled to "duty credit scrips" or import duty benefit equivalent to 2% of FOB value of exports. The export should have been made from 27th August, 2009 onwards. The writ petitioners were exporting "Manmade Filament Yarn" with or without embroidery and with or without metalised yarn. There is no dispute about the quantity ....

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....efinition of it is bound to have the effect of an amendment. This is exactly what has been sought to be done by the policy circular dated 21st October, 2011, with retrospective effect. The Hon'ble Supreme Court of India in Union of India vs. Asian Food Industries, reported in 2006[204] ELT 8 [SC] held that any amendment of the above Act can only have prospective effect. This was also reiterated by Indira Banerjee, J. of our Court in Soubhik Exports Ltd. vs. Union of India; reported in 2007[214] ELT 334. To my mind, two other points are involved here. The first is promissory estoppel. The exporter, on reliance of the earlier interpretation and enforcement of the policy made exportation of the said goods with the expectation of earni....