Status Holders exporting products covered under ITC HS Chap. 1 to 24, shall be incentivized with duty credit scrip equal to 10% of FOB value - 66/2007 - Foreign Trade Policy

Status Holders exporting products covered under ITC HS Chap. 1 to 24, shall be incentivized with duty credit scrip equal to 10% of FOB value NOTIFICATION NO. 66/2007 Dated 27/12/2007 S.O.(E) In exercise of powers conferred by Section 5 of the Foreign Trade (Development Regulation) Act, 1992 read with paragraph 1.3 of the Foreign Trade Policy (FTP), 2004-2009, as amended, the Central Government hereby makes the following amendments in FTP (RE2007), 2004-2009. 1. Para 3.8.6 is replaced as under: "For exports during 2007-08, all Status Holders (having status recognition w.e.f 1.4.2007) exporting products covered under ITC HS Chapters 1 to 24, shall be incentivized with duty credit scrip equal to 10% of FOB value of agricultural exports (including benefits entitled under paragraph 3.8.2) provided that the total benefits for all status holders put together does not exceed Rs 100 Cr (i.e. Rs 50 Cr for each half year) and the conditions specified in Para 3.19.10 of HBP v1 (RE2007) are satisfied. Zonal Office CLA, New Delhi shall be the licensing office for grant of the benefit to all status holders. The following capital goods / equipments shall be permitted for import: (i) Cold storage units (including Controlled Atmosphere (CA) and Modified Atmosphere (MA) Stores); and Pre-cooling Units and Mother Storage Units for Onions, etc.; (ii) Pack Houses (including facilities for handling, grading, sorting and packaging etc.); and (iii) Reefer Van / Containers. Imported capital goods/equipment shall be utilized for storage, packing etc. (as in (ii) above) and transportation of agricultural products (including agro-processed perishable products). This additional benefit shall be subject to actual user condition and hence non-transferable." 2. This shall apply for exports w.e.f 1.4.2007. This issues in Public interest. Sd/- (R S GUJRAL) Director General of Foreign Trade and Ex Officio Additional Secretary to the Government of India (Issued from File. No. 01/94/180/461/AM08/PC-I)