This is in continuation with SEBI circular No. DNPD/Cir-31/2006 dated January 20, 2006 prescribing the eligibility criteria for the introduction of derivatives on stocks of companies undergoing corporate restructuring.
Representations have been received requesting to consider Vishesh Krishi Upaj Yojana benefits on the premise that since the scheme was announced for the 1st time in Foreign Trade Policy 2004-09 announced on 31st August 2004, the exporters of these commodities have factored the component of benefits under the scheme while finalizing export contracts.
In exercise of the powers conferred by section 75 of the Customs Act, 1962 (52 of 1962) and section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the Customs and Central Excise Duties Drawback Rules, 1995, namely.
In such cases, for calculation of value addition, the notional value of free of cost inputs along with value of other duty-free inputs shall be taken into consideration. However, if all the inputs are supplied free of cost, the exporter shall also have the option to follow the provision prescribed in paragraph 4.2.7 of the Policy.
In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962, (52 of 1962), the Board, being satisfied that it is necessary and expedient so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.36/2001-Cus (N.T.), dated, the 3rd August 2001, namely.
Public Notice No. 88 amends export benefits for oleoresins under Vishesh Krishi Upaj Yojana effective from 1st April 2005.
