Deemed export benefits on supplies made to Projects financed by multilateral or bilateral agencies / funds covered under Para 8.2 (d) of Foreign Trade Policy other than World Bank and Asian Development Bank

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..... (d) of Foreign Trade Policy other than World Bank and Asian Development Bank GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE DIRECTORATE GENERAL OF FOREIGN TRADE POLICY CIR NO. 06/2004-09, Dt. 26/10/2004 Attention is invited to the provisions contained in para 8.2(d) of Foreign Trade Policy read with para 8.2.3 of Handbook of Procedures (Vol.I). .....

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..... aid notification. Similarly, in terms of Central Excise Notification No. 108/95 -CE dated 28.8.1995, goods supplied to such projects are exempt from payment of excise duty. 2. An issue has been raised whether supply of goods to projects financed by agencies / funds like Japan Bank for International Cooperation (JBIC) covered by the Department of Economic Affairs, Ministry of Finance Notification .....

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..... be. Such supplies would, however, not be eligible for exemption from payment of excise duty as the agencies / funds are not covered under Excise Notification No. 108/95 dated 28.8.1995, and (ii) In so far as refund of terminal excise duty is concerned, it is clarified that as a general rule such refund is available only in those cases where no CVD is payable on import. Refund of excise duty would .....

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