Clarification on issue duty credit for goods exported under the Scheme for Rebate of State and Central Taxes and Levies
The value of the said goods for calculation of duty credit to be allowed under the Scheme shall be the declared export FOB value of the said goods or up to 1.5 times the market price of the said goods, whichever is less.
The Electronic Duty Credit Ledger Regulations, 2021.
The duty credit available in the e-scrip in the ledger shall be used for payment of duties of Customs specified in the First Schedule to the Customs Tariff Act, 1975 and the e-scrip shall be valid for a period of one year from the date of its creation in the ledger and any duty credit in the said e-scrip remaining unutilized at the end of this period shall lapse.
Revised timeline for filing online application under SEIS in the FTP 2015-20
For SEIS claim for FY 2019-20, the deadline for filing the online application as per ANF 3B shall be 31.12.2021. Provision of late cut shall not apply for SEIS applications for FY 2019-20 and applications filed after due date 31.12.2021 shall get time-barred.
Clarification regarding issue of duty credit for goods exported under the Scheme for Remission of Duties and Taxes on Exported Products
Duty credit shall be issued by Customs in excess of the ineligible amount of duty credit pertaining to the unrealized portion of sale proceeds against export of goods made earlier. If the Principal Commissioner of Customs or Commissioner of Customs has reason to believe, on the basis of risk evaluation or on the basis of enquiry, that the claim of duty credit made by an exporter on export goods may not be bona fide, he may direct, for reasons to be recorded in writing, to allow duty credit after realization of sale proceeds of such exports.
DGFT to Deactivate IECs not updated after 1st Jan, 2005.
Any IEC where an online updation application has been submitted but are pending with the DGFT RA for approval shall be excluded from the de-activation list.
Ministry of Commerce notifies the last date for submitting applications for scrip based FTP schemes and validity period of duty credit scrips.
The validity of any scrip issued under FTP from the date of this Notification has been notified to be 12 months from the date of issue, in supersession of validity provisions in the Handbook of Procedures, 2015-20.
DGFT applications for allocation of tariff rate quota under India-Mauritius CECPA for the year 2021-22
The applications shall be submitted latest by 31st October, 2021.
Extended timeline for applying for scrip based FTP schemes
he last date for applying for MEIS, SEIS, ROSCTL and ROSL is extended till 31st December 2021.
Revised import policy for import through IOC
The revised policy allows Import through IOC by entities other than companies who have been granted rights for marketing of transportation fuels for products excluding gasoline and automotive diesel fuel, not containing bio-diesel.
DGFT clarifies procedure for refund of application fees deposited by applicants for Restricted Import Authorization for Moong, Tur and Urad
Applicants are requested to withdraw their restricted import authorization application after logging onto the DGFT Website.
After withdrawal of application, request for refund is to be made at the DGFT Website.
