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Excise duty refund restricted Deemed Exports status to supplies to Oil and Gas sectors and News Refineries - Conditions changed
Public Notice No. 29 dated 29th July 1997
In exercise of the powers conferred under paragraph 4.11 of the Expor1 and Impor1 Policy, 1997-2002, the Director General of Foreign Trade hereby makes the following amendment in the Handbook of Procedure (Vol.1), 1997-2002.
2. At the end of the Paragraph 10.11 the following sub-paragraphs shall be added
Supplies under Paragraph 10.2 (g) of the Policy to the Oil and Gas Sectors (excluding Refineries) shall be entitled for deemed export benefits provided items of such supplies are covered under the Custom Notification No.11/ 97 dated 1.3.1997 (S.No. 152), as amended from time to time, for import of on-shore and off-shore oil and gas exploitation and exploration projects and such supplies are made under International Competitive Bidding or Limited Global Tender, without reference to the bid evaluation methodology, The domestic suppliers all be eligible for the benefits given in Paragraph 10.3(c) and (d) only with the further stipulation that the refund of Terminal Excise Duty under Paragraph 10.3(c) would be restricted to the amount that would have been payable as Excise @ 3%.
Supplies under Paragraph 10.2(g) of the Policy to the new Refineries, being set up during the 9th plan period, shall be entitled for deemed expor1 benefits provided the items and equipments of supplies are covered under Custom Notification No.55197 dated 13.6.1997, as amended from time to time and such supplies are made under International Competitive Bidding or Limited Global Tender, without reference to the bid evaluation methodology. The domestic supplier shall be eligible for the benefits given in Paragraph 10.3(a), (b) and (d) of the policy only.
3. This issues in public interest.
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