Clarification on grant of SFIS benefits to Service providers under EPCG scheme for the period 1.4.2007-31.3.2008

Government of India

Ministry of Commerce

Directorate General of Foreign Trade

Udyog Bhavan, New Delhi – 110 011.

Policy Circular No. 62 (RE-2008)/2004-2009          

     Dated   13^th February, 2009

To,

All Regional Authorities

Subject: Clarification on grant of SFIS benefits to Service providers under EPCG scheme for the period 1.4.2007 -31.3.2008

Reference is invited to Policy Circular No.15/RE: 2008 (2004-2009) dated 4^th July 2008 regarding grant of benefits to service providers under “Served From India Scheme” (SFIS) and para 5.4(v) of FTP RE: 2007.

It is clarified that “pending EO under EPCG Authorization (over and above average, if any)” means the duty saved export obligation which is pending over and above the minimum duty saved export obligation specified to be fulfilled in the prescribed block of years.

SFIS can therefore be granted on the foreign exchange earned during 1.4.2007 till 31.3.2008 in cases where the duty saved export obligation of the preceding “block” (i.e. the “block” prior to 1.4.2007) has been completed.

This issues with the approval of DGFT.

Sd/-

(Akash Taneja)

Jt. Director General of Foreign Trade

(Issued from File No. 18/65/AM09/EPCG-II)