Attention is invited to the Public Notice No. 130 dated 27.3.2008 (as amended from time to time), PN No. 137 dated 3.4.2008 wherein DEPB Benefits were withdrawn against export of primary steel items, Cement and Rice with immediate effect. Representations have now been received from Trade and Industry and the Regional Authorities of DGFT.
Whether oil rigs engaged in operations in the exclusive economic zone/ continental shelf of India, falling outside the territorial waters of India, are foreign going vessels as defined by Section 2(21) of the Customs Act, 1962, and are entitled to consume imported stores thereon without payment of customs duty in terms of Section 87 of the Customs Act, 1962?
In terms of the above provision, it is, once again, clarified that where export is under DEPB Scheme, for claim of DEPB only for Packing Material, exporters are entitled to VKGUY Scheme benefits @ 5% of Fob Value of Exports.
Consequently, for exports w.e.f 17.4.2008, export of Milk and value added Milk Products (covered under ITC HS codes 0401 to 0406, 19011001, 19011010 & 2105) shall not be entitled to VKGUY scheme benefits.
In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 read with paragraph 1.3 of the Foreign Trade Policy (FTP), 2004-2009, as amended, the Central Government hereby makes the following amendments in FTP 2004-2009, Updated as on 11.4.2008.
The principal notification No.12/97-CUSTOMS(N.T.), dated the 2nd April, 1997 was published in the Gazette of India, Extraordinary, Part-II, section 3(i) vide number G.S.R. 193(E), dated the 2nd April, 1997 and was last amended by notification No.34/2008-CUSTOMS(N.T.), dated the 28th March, 2008, published in the Gazette of India, Extraordinary, Part-II, section 3(i) vide number G.S.R. 239(E), dated the 28th March, 2008.
