The Ministry of Finance vide its notification dated 5th October 2020 brings in amendment to its earlier notification, which exempts goods, when imported into India against a duty credit scrip issued by the Regional Authority under the Scheme for Rebate of State and Central Taxes and Levies.
The duty credit scrip against which goods when imported into India are exempted from duties may include duty credit provided under the Additional Ad Hoc Incentive, however the exemption shall be subject to the following condition that against export of the said goods under the RoSCTL scheme where the order permitting clearance and loading of goods for exportation under section 51 of the said Act has been made on or after the 7th March 2019 and till 31st March 2021 or until such date the RoSCTL scheme is merged with the Remission of Duties and Taxes on Exported Products scheme, whichever is earlier.
Provided that in case of Additional Ad Hoc Incentive, an order permitting clearance and loading of goods for exportation under section 51 of the said Act has been made on or after the 7th March, 2019 and till 31st December 2019.
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