How to redeem duty scrip received under vkguy

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2015 Hello!

We are exporter of agro produce and are beneficiary of duty scrip under Vishesh Krishi Yojna. We do not have any import of raw material or machinery, can you please guide as to how can we utilise the duty scrip.

Can we sell the scrip to other users who wish to pay their domestic excise duty under PLA? If yes, what is the procedure?

Dr.RAMAKRISHNA. C

Dr.RAMAKRISHNA. C (Expert)
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28 July 2016 Duty credit scrip issued under VKGUY Scheme and items imported against are freely transferable. According to Paragraph 3.17.6 of Foreign Trade Policy 2009-2014 the duty credit scrip could be utilized for payment of excise duty. For procedural details you may contact the jurisdictional Central Excise Range Superintendent.