Powered by InfodriveIndia.com

Admissibility of 5% entitlement rate under VKGUY Scheme for shipments under Duty Drawback Scheme where the Drawback Rate is up to 1% only (including both Customs and Excise components) , DGFT Policy Circular No 03/2008, DT 24/04/2008, 24-04-2008


Date: 24-04-2008
Notification No: DGFT Policy Circular No 03/2008, DT 24/04/2008
Issuing Authority: DGFT  
Type: Circular
File No: 01/94/180/396/AM07/PC-I
Subject: Admissibility of 5% entitlement rate under VKGUY Scheme for shipments under Duty Drawback Scheme where the Drawback Rate is up to 1% only (including both Customs and Excise components)

GOVERNMENT OF INDIA
MINISTRY OF COMMERCE & INDUSTRY
DEPARTMENT OF COMMERCE
DIRECTORATE GENERAL OF FOREIGN TRADE
New Delhi


Policy Circular No. 03(RE-2008)/2004-2009

Dated the 24th April, 2008


To
All Regional Authorities
Exporting Community


Subject: Admissibility of 5% Entitlement Rate under VKGUY Scheme, for shipments under Duty Drawback Scheme where the Drawback Rate is up to 1% only (including both Customs & Excise components).


Representations have been received from exporters as well as Regional Authorities regarding the applicability of VKGUY entitlement rate when the shipment is made under the Duty Drawback Scheme.

  1. In this regard, attention is invited to paragraph 3.8.2 of the Foreign Trade Policy 2004-2009. The second sentence was added in Para 3.8.2 in FTP (RE2006) and is reflected in FTP (RE2008) as under:
    “However, Duty Credit scrip benefits shall be granted only at a reduced rate of 3.5% of FOB value of exports (realized in free foreign exchange) in such cases where exporter has availed benefits under Chapter 4 of FTP for import of Agriculture Inputs (other than catalysts, consumables and packing materials) relating to export item under this scheme.”

  2. In terms of the above provision, it is, once again, clarified that where export is under DEPB Scheme, for claim of DEPB only for Packing Material, exporters are entitled to VKGUY Scheme benefits @ 5% of Fob Value of Exports.

  3. It has been similarly decided that wherever Duty Drawback Rate is up to 1% only (including both Customs & Excise components), such exports under Duty Drawback Scheme are entitled to VKGUY Scheme benefits @ 5% of Fob Value of Exports.

  4. It is also clarified that since the above provision (as in 2 above) was introduced in FTP (RE2006), this provision applies for VKGUY Scheme benefits on exports made on or after 1.4.2006.
    This issues with the approval of Director General of Foreign Trade.

Sd/-
(A K Arora)
Dy. Director General of Foreign Trade
(Issued from F. No. 01/94/180/396/AM07/PC-I)

       


Enquiry Form

Fields marked with an asterisk * are required.

 




What is New?

Date: 30-06-2015
Customs Notification No 65/2015 (NT)
Tariff Notification in respect of fixation of T V of Edible oil, Brass, Poppy seed, Areca nut, gold and Silver

Date: 29-06-2015
Trade Notice No.06/2015
Release of Mobile Application for DGFT related services

Date: 26-06-2015
DGFT Notification No 13/ 2015-2020
Export Policy of Onions-increase in Minimum Export Price (MEP)

Date: 25-06-2015
RBI/2014-15/649 A.P. (DIR Series) Circular No. 112
Overseas Foreign Currency Borrowings by Authorised Dealer Bank

Date: 24-06-2015
DGFT Notification No 12/ 2015-2020
Prohibition on import of milk and milk products from China.

Date: 23-06-2015
DGFT Public Notice No. 22/2015-2020
SION for new product `Golf Gloves` made of Knitted/Crocheted/Woven/Non-woven fabrics under Textiles Product Group.

Date: 23-06-2015
DGFT Public Notice No. 21/2015-2020
Format of Bank Guarantee, to be executed with DGFT, for recognition as Pre-Shipment Inspection Agency (PSIA).

Date: 18-06-2015
RBI/2014-15/643 A.P.(DIR Series) Circular No. 110
BEF statement - Submission under XBRL

Date: 18-06-2015
RBI/2014-15/644 A.P. (DIR Series) Circular No.111
Exim Bank's GoI supported Line of Credit of USD 100 million to the Government of Socialist Republic of Vietnam

Date: 18-06-2015
Customs Notification No 63/2015 (NT)
Rate of exchange of conversion of the foreign currency with effect from 19th June, 2015



Exim Guru Copyright © 1999-2015 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory. RSS

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001