Authorization/Duty credit scrips and re-credit of 4% SAD thereof - DGFT - 38/2009-14

Authorization/Duty credit scrips and re-credit of 4% SAD thereof To Be Published In The Gazette Of India Extraordinary (Part-I, Section-1) Government Of India Ministry Of Commerce And Industry Department Of Commerce Public Notice No. 38/2009-14 New Delhi : the 3rd February, 2010 Subject: Amendment of paragraph 2.13.1 , 3.11.7 and 4.50 of HBP Vol. 1 for revalidation of freely transferable Authorization/Duty credit scrips and re-credit of 4% SAD thereof. In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14 , the Director General of Foreign Trade hereby makes the following amendments in the Handbook of Procedures (Vol.1), 2009-14 :- 1. Paragraphs 2.13.1 of HBP Vol. 1 shall be substituted by the following: 2.13.1 . However, revalidation of freely transferable Authorisation / Duty credit scrips and stock and sale Authorisation shall not be permitted unless validity has expired while in custody of Customs authority/RA. 2. A new Paragraph 2.13.2A stands added in the HBP Vol. 1 as under: 2.13.2A . For the purpose of re-credit of 4% Special Additional Duty (SAD) of customs in the freely transferable Duty credit scrips (including DEPB), revalidation for a maximum period of 6 months from the date of endorsement, shall be allowed in case the balance period of validity is less than 6 months on the date of re-credit. 3. Paragraph 3.11.7 related to validity period of duty credit scrips issued under chapter 3 shall be replaced by the following: 3.11.7. Duty Credit Scrip shall be valid for a period of 24 months Revalidation of Duty Credit Scrip shall not be permitted unless covered under paragraph 2.13.1 or paragraph 2.13.2A of HBP v1 . 4. Paragraph 4.50 related to revalidation of DEPB shall be replaced by the following: No revalidation shall be granted beyond original period of validity of DEPB unless covered under paragraph 2.13.1 or paragraph 2.13.2A of HBP v1 . This issues in public interest. Sd/- (R.S. Gujral) Director General of Foreign Trade and Ex-officio Special Secretary to the Government of India (Issued from File. No. 01/94/180/DEPB-SAD recredit/AM10/PC-4)