The undersigned has been authorized to direct the exchanges to bring the provisions of this circular to the notice of the member brokers and also to disseminate the same on the website.
Kind attention is invited to Sr.Nos.167, 168 and condition No.21of the subject customs notification in terms of which duty free import of lining and interlining materials required by garment exporters for use in the export product is permitted upto 2% of the FOB value of exports of garments made during the preceding financial year.
Since Appendix 17D for DFCE under Exim Policy 2003-04 is being revisited, in view of representations from the trade and industry, it is clarified that the last date of submission of applications for claiming benefits under above scheme shall be 90 days from the date the said revised Appendix 17D is notified afresh.
The Ministry has announced the revised All Industry Rates of Duty Drawback vide notification No.36/2005-Cus (NT) dated 2.5.2005. These rates shall come into force with effect from 5.5.2005. The notification may be downloaded from CBEC website www.cbec.gov.in and perused for details.
In this regard, SEBI had vide letter DPS-II/GTB-ECS/16703/2004 dated July 29, 2004 granted temporary exemption to the Registrars and Share Transfer Agents and the Issuer Companies from making the payment of dividend, interest .
I am directed to refer to Boards letter No. 6/39/2000-CX.I dated 1.7.2002 clarifying certain points relating to the Central Excise Valuation (Determination of Price of Excisable Goods) Rules,2000.
The above provisions have also been incorporated in para 4.7 of Handbook of Procedures, Vol-1 as updated and published vide Public Notice No.1 dated 08.04.05. Now it is clarified that the licensing authorities should not allow any enhancement in the CIF value of the licences issued prior to 28.3.05 for any additional exports effected on or after 28.3.05.
The merits of these representations are under study and shortly the revised appendices shall be notified. Accordingly all RLAs are advised not to accept any application for grant of DFCE under EXIM Policy (2003-04) and Target Plus Scheme under Foreign Trade Policy (2004-05) benefits till fresh notifications as mentioned above are issued. Applications already received, if any, may be kept in abeyance
A supplementary application is submitted late, but within six months of the last prescribed date, a 20% cut shall be applied on the entitlement which shall include 10% cut as per Para 9.3 and another 10% as per Para 9.4 of the Handbook of Procedures Vol.I. Supplementary claims filed outside the purview of Para 9.3 of Handbook of Procedures (i.e. after six months of the last prescribed date) shall not be entertained.
I am directed to invite your attention to the above mentioned subject and to say that references have been received from the various quarters, requesting for grant of DEPB benefits in respect of supply of goods from the units in DTA to units in SEZ during the period from 01.04.2003 to 11.5.2004.
