Supply from DTA units to SEZ units - amendment in the provisions relating to DEPB

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..... Supply from DTA units to SEZ units - amendment in the provisions relating to DEPB - Commentaries / Editorials Dated:- 20-9-2008 - News - Notification No. 42 (RE-2008)/2004-2009 dated 18/9/2008 has been issued to amend the provisions related to amend the para 4.3.1 of the Foreign Trade Policy 2008 relating to eligibility of DEPB on export of goods from DTA units to SEZ units against foreign .....

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..... currency Existing Provision: "4.3.1 An exporter may apply for credit, at specified percentage of FOB value of exports, made in freely convertible currency or payment made from foreign currency account of SEZ unit / SEZ Developer in case of supply by DTA. Credit shall be available against such export products and at such rates as may be specified by DGFT by way of public notice. Credit .....

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..... may be utilized for payment of Customs Duty on freely importable items. DEPB Scrips can also be utilized for payment of duty against imports under EPCG Scheme w.e.f 1.1.2009." New Provision: "4.3.1 An exporter may apply for credit, at specified percentage of FOB value of exports, made in freely convertible currency. In case of supply by a DTA Unit to a SEZ Unit /SEZ Developer / Co-Develop .....

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..... er, an exporter may apply for credit for exports made in freely convertible currency or payment made from foreign currency account of SEZ Unit / SEZ Developer /Co-Developer. In addition, the exporter shall also be entitled for DEPB benefit in case payment is made in Indian Rupees by SEZ Developer / Co-Developer for supplies received w.e.f 10.2.2006." - News - Press release - PIB Tax Management .....

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..... India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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