How to utlize the such export incentive scrips under Foucs Product scheme, Focus Market scheme, MLFPS etc., for payment of Excise Duty for domestic procurement.
Please let me have the detailed procedure for the above.
I give belw the recent amendments made in Chapter 3 of Foreign Trade Policy. pls go thro and let me have the reply for the words in Capital letters.
The present Policy allows scrips under different schemes of Chapter 3 of Foreign Trade Policy, namely, Focus Product Scheme (FPS), Focus Market Scheme (FMS), Vishesh Krishi and Gram Udyog Yojana (VKGUY) Scheme, Status Holder Incentive Scrip (SHIS) Scheme, Market Linked Focused Product (MLFPS) Scheme, Served From India Scheme (SFIS) and Agri. Infrastructure Incentive Scrip (AIIS) Scheme, for import of goods as per conditions of these Schemes. " NOW THESE SCRIPS SHALL BE PERMITTED TO BE UTILIZED FOR PAYMENT OF EXCISE DUTY FOR DOMESTIC PROCUREMENT " Earlier only scrips under SFIS were so permitted for procurement of goods from domestic market. Now all scrips would be permitted to source from domestic market so as to encourage manufacturing, value addition and employment. This will be an important measure for import substitution and will help in saving of foreign exchange in addition to creating additional employment.
17 September 2012
yes dear author i am agreed with you kindly noted that i had already posted the foreign trade policy for further information link is:
CAclubindia
