What is shis licence ?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2015 Dear Sir,

what is SHIS License & what is the procedure for removable of excisable goods to SHIS License Holder ?

Thanks in Advance

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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30 September 2015 The SHIS reward scheme under Foreign Trade Policy is operationalized with effect from 14th September,2009 with an objective to promote investment in up gradation of technology of some specified sectors. The Status Holders of specified sectors are entitled for an extra scrip called SHIS at 1% of the of FOB value of exports of those products/sectors made during 2009-10, 2010-11 and 2011-12 and 2012-13. This benefit reward scheme under Foreign Trade Policy shall be over and above any duty credit scrip claimed/availed under the chapter of this reward scheme of Foreign Trade Policy.

Further note:
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In the exercise of the power conferred under Section 5A(1) of the Excise Act read with Section 3(3) of the Additional Duties of Excise (Goods of Special Importance), 1957 and Section 3(3) of the Additional Duties of Excise (Textile and Textile Article) Act, 1978, the Central Government has issued Notification No. 19/ 2015 – Central Excise dated April 1, 2015, making due amendment in Notification No. 33/2012-Central Excise, dated July 9, 2012 wherein the Government has exempted the Capital goods specified in the First schedule and Second Schedule to the Excise Tariff Act, when cleared against a Status Holder Incentive Scheme duty credit scrip issued to a Status Holder by the Regional Authority in accordance with paragraph 3.16 of the Foreign Trade Policy from:

Excise Duty leviable under the First Schedule and the Second Schedule to the Excise Tariff Act,
Additional Duty of Excise leviable under Section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957 and
Additional Duty of Excise leviable under Section 3 of the Additional Duties of Excise (Textiles and Textile Articles) Act, 1978.