Focus market sceheme.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2015 Dear Sir / Madam

We are from corporate sector and having two manufacturing unit.Our H.O. located at Mumbai.we have exported the goods under focus market sceheme,can we utilize the credit lying in this sceheme,for the payment of excise duty at our manufacturing unit ? Please advice.

Thanks,
R.J.Dave.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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16 April 2015 Mr Dave Ji,

kindly noted thatDuty Credit Scrip can also be utilised for payment of Excise Duty on domestic procurement of such items as permitted to be imported under respective scheme.

Additional customs duty/excise duty paid in cash or through debit under Duty Credit Scrip shall be adjusted as CENVAT Credit or Duty Drawback as per Department of Revenue rules, except under SFIS.

Duty Credit Scrip can be utilised for payment of duty in case of import of capital goods under lease financing in terms of provision in Para 2.25 of FTP.

Duty Credit Scrip can also be utilised / debited for payment of Custom Duties in case of Export Obligation (EO) defaults for Authorizations issued under Chapters 4 and 5 of this Policy. However, penalty / interest shall be required to be paid in cash.

Please Read Para 3.17.5 of foreign trade policy 2009-2014

"Duty Credit Scrip may be used for import of inputs or goods including capital goods, provided same is freely importable and / or restricted under ITC(HS).However, import of items listed in Appendix 3 7B of HBPv1 shall not be permitted to be debited.
Duty Credit Scrips under Chapter 3 of FTP can also be utilized for payment of duty against imports under EPCG scheme provided the item is importable against the scrip.

Para CENVAT / Drawback 3.17.6 of ftp 2009-2014 " Additional customs duty/excise duty paid in cash or through debit under Duty Credit scrip shall be adjusted
as CENVAT Credit or Duty Drawback as per DoR rules,except under SFIS."

Regards,

ramesh kumar
exim consultants

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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17 April 2015 thanks........you can here any query eminent experts will assist and resolved of queries

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