NOTIFICATION NO. 28/2019, DT. 31/10/2019
Amendment in Chapter 7 of the Foreign Trade Policy 2015-20 - regd.
S.O (E) : In exercise of powers conferred by Section 5 of Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992, as amended from time to time), the Central Government hereby makes the following amendments in Chapter 7 of the Foreign Trade Policy 2015-20 with effect from 5.12.2017:
|
Para No. |
Existing Provision |
Amended Provision |
|
7.03(b) |
Deemed Export Drawback for BCD |
Deemed Export Drawback |
|
7.06 |
Conditions for refund of deemed export drawback
Supplies will be eligible for deemed export drawback as per para 7.03 (b) of FTP, as under:
The refund of drawback in the form of Basic Customs duty of the inputs used in manufacture and supply under the said category shall be given on brand rate basis upon submission of documents evidencing actual payment of basic custom duties
|
Conditions for refund of deemed export drawback
Supplies will be eligible for deemed export drawback as per para 7.03 (b) of FTP, as under:
Refund of drawback on the inputs used in manufacture and supply under the said category can be claimed on ‘All Industry Rate’ of Duty Drawback Schedule notified by Department of Revenue from time to time provided no CENVAT credit has been availed by supplier of goods on excisable inputs or on ‘Brand Rate Basis’ upon submission of documents evidencing actual payment of basic custom duties. |
Effect of this Notification: Refund of drawback of Duty paid on inputs is also allowed on All Industry Rate.
(B.B. Swain)
Director General of Foreign Trade
Ex-Officio Additional Secretary, Government of India
[Issued from File No. 01/92/180/21/AM-19/PC-VI]
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