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In exercise of powers conferred under Paragraph 2.4 of the Foreign Trade Policy, 2004-2009 and Paragraph 1.1 of the Handbook of Procedures (Vol. I), the Director General of Foreign Trade hereby makes the following amendments in the Schedule of DEPB Rates notified vide Public Notice No. 102 dated 5.11.2008.
– In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Companies (Central Government’s) General Rules and Forms, 1956, namely:
In this context, the FIPB’s approval is only for the purpose of permitting foreign investment and any such approval does not automatically confer a right on the applicant to open a duty free shop at any port. The observance of any conditions stipulated under the Customs Act, 1962 and rules and regulations made thereunder is mandatory. CBEC has laid down instructions, conditions and guidelines for setting up private bonded warehouse from time-to-time, notably under circulars Nos. 68/95 dated 15.6.95, 99/95 dated 20.9.95, 28/96-Cus dated 14.5.96 and 18/2007-Cus dated 24.04.2007. At present, duty free shops can only be set up in the Customs areas.
Consequently, exports of Cement in all types and forms, and Primary Steel Products as listed in Public Notice No. 130(RE 2007) /2004-09 dated 27.3.2008, as amended from time to time, made with effect from the date of issuance of this Notification shall be eligible for export incentives under Focus Market Scheme.
