Implementation of Hon'ble Supreme Court's Judgement dated 27.10.2015 in C.A. No. 554 of 2006 titled DGFT v/s Kanak Exports

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....7 Sub:- Implementation of Hon'ble Supreme Court's Judgement dated 27.10.2015 in C.A. No. 554 of 2006 titled DGFT v/s Kanak Exports. Attention is invited to the Target Plus Scheme (TPS) (Para 3.7.1 of FTP 2004-2009) which was announced by DGFT on 31.08.2004 with the objective to accelerate growth in exports by rewarding Star Export Houses who have achieved minimum export turnover in f....

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....cordingly, the Department issued Notification No. 73/2006-cus, dated 10.07.2006 to implement Target Plus Scheme for 2005-06. The revenue notifications inter alia included the extended list of ineligible exports as per amendments made by DGFT. 2 The retrospective amendments by DGFT of Target Plus Scheme 2005-2006 were challenged in various courts. The Hon'ble Supreme Court in its judgment da....

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....isions has also been amended vide Notification No. 22/2017-Customs, dared 31.05.2017. 4. Further, to rule out any misuse of the scheme, DGFT has issued Trade Notice No. 06/2018, dated 08.5.2017 inter-alia setting up Zonal Committees for scrutiny of claims. The procedure specified in the DGFTs Trade Notice is self-explanatory. Thus, TPS Scrips will now be issued for exports of 2005-2006 after sc....