In exercise of the powers conferred by rule 18 of the Central Excise Rules, 2002, the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance
The facilities extended to this sector include, interalia, (a) duty free import entitlement of specified trimmings and embellishments at 5% of FOB value of exports made during the previous financial year; and (b) duty free import of old pieces of hand knotted carpets on consignment basis for re-export. To give effect to the Policy provision at (a) above, S.No.167 of notification No. 21/2002-Cus.
In the light of these Policy provisions, the issue regarding execution of Bond/BG under DEEC and EPCG Schemes has been reviewed by the Board and in supersession of earlier DOR Circular Nos. 45/96-Cus., dated 28.8.96, 71/98-Cus., dated 15.9.98, 48/2003-Cus., dated 6.6.2003, 74/2003-Cus., dated 21.8.2003 and 79/2003-Cus., dated 4.9.2003, the following revised norms are prescribed for the purpose of furnishing Bond and BG under the said Schemes.
It is, therefore, clarified that the benefit of DEPB Scheme should be allowed on exports even though the inputs used in the manufacture of the export product were cleared through DEPB route. The letter F.No.605/11/2004-DBK dated 12.4.2004 of OSD.
