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TMI BlogForeign Trade Policy 2015-2020 – Salient changes in Schemes of reward or incentive / advance authorization or DFIA / EPCG or post export EPCGX X X X Extracts X X X X X X X X Extracts X X X X ..... or DFIA / EPCG or post export EPCG - reg The Central Government has notified the Foreign Trade Policy (FTP), 2015 - 20 (Policy, for short) on 1.4.2015 and the DGFT has simultaneously issued public notices for the related Handbook of Procedures (HBP) and Appendices and ANF. These documents may be perused for details. 2. Insofar as the schemes of reward or incentive / advance authorization or DFIA / EPCG or post export EPCG are concerned, the Customs, Central Excise and Service Tax notifications have been issued for the purposes of implementing the Policy/HBP. These may also be perused for details. The succeeding paragraphs mention salient features of the changes in these Schemes. Reward/Incentive Schemes 3. Reward in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion for certain shipping bills would continue. The changed position shall enable Customs to take more informed decisions. Advance Authorization DFIA schemes 6. The Policy has now provided for exemption from the transitional product specific safeguard duty of section 8C of CTA 1975 . Advance Authorization for Annual Requirement has been restricted to cases of standardised norms (no self-declared norms). Only a post-export transferable DFIA with exemption from basic customs duty is provided for. Fuel cannot be imported under the new DFIA. These aspects are reflected in the notification Nos. 18 to 22/2015-Customs dated 1.4.2015 for Advance Authorization Scheme. Provisions relating to accounting of inputs introduced in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on and for transfer of EPCG capital goods to group companies in certain cases/sectors are discontinued. 11. Amongst the significant simplifications under the Policy, the export obligation for spares for imported/domestically sourced capital good has been rationalized as that for capital goods. Installation Certificates (ICs) for capital goods have been permitted to be from jurisdictional Central Excise or independent Chartered Engineer. In the latter case, a registered unit would send copy to the jurisdictional Central Excise office. Capital goods may be installed at supporting manufacturer s premises if prior to such installation the latter s details are endorsed on the authorization by Regional Authority, who shall also, as per para ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ications and monitoring remain in force. There have been instances of fabricated export documents (purported to be of Customs non-EDI ports) being used in obtaining rewards/showing fulfillment of EO. Based on DGFT s suggestion, it is advised that genuineness of shipping bills or bills of export not on Customs EDI may be expeditiously verified while registering scrip or processing EODC based on such document. Insofar as monitoring is concerned, field formations have been recently enabled to view in EDI the authorization-wise all India export details which would assist in identifying actionable cases under Advance Authorization and EPCG schemes. The Board s emphasis on timely action to safeguard revenue is evident from CBEC s Comprehensive MI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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