Executive Summary:
This notification, effective from December 5, 2017, amends Chapter 7 of the Foreign Trade Policy 2015-2020. It concerns deemed export drawback for Basic Customs Duty (BCD) and outlines conditions for refund of deemed export drawback. The amendment allows refund of duty paid on inputs on All Industry Rate.
Key Points / Main Content:
Deemed Export Drawback:
* Deemed export drawback is applicable.
Conditions for Refund of Deemed Export Drawback:
* Supplies will be eligible for deemed export drawback as per Para 7.03 b of FTP.
* Refund of drawback on inputs used in manufacture and supply under the specified category can be claimed on All Industry Rate.
* Refund of drawback can be claimed on brand rate basis upon submission of documents evidencing actual payment of basic custom duties.
* CENVAT credit should not be availed by the supplier of goods on excisable inputs.
Impact Analysis:
Exporters:
* Impact: Exporters can now claim refunds of drawback of duty paid on inputs on All Industry Rate in addition to the existing provisions.
* Action Required: Exporters should review the amended provisions and ensure compliance with the new conditions for claiming deemed export drawback.
Government Agencies (Department of Revenue):
* Impact: The Department of Revenue is responsible for notifying the Duty Drawback Schedule.
* Action Required: Update the Duty Drawback Schedule to reflect the change and ensure smooth processing of refund claims.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A government policy document related to foreign trade, which is being amended by this notification.
Foreign Trade Development and Regulation Act, 1992: An act of the Indian Parliament that empowers the Central Government to make provisions for the development and regulation of foreign trade.
Central Government: The government of India, which is issuing the notification and making amendments to the Foreign Trade Policy.
Department of Commerce: A department under the Ministry of Commerce and Industry, responsible for foreign trade policies and regulations.
Basic Customs Duty: A type of duty levied on imported goods, related to the refund mentioned in the notification.
Directorate General of Foreign Trade: An organization under the Department of Commerce, involved in implementing foreign trade policy.
B. B. Swain: Director General of Foreign Trade and Ex-Officio Additional Secretary, signatory of the notification.
New Delhi, Delhi: The location where the notification is issued.
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
NOTIFICATION
New Delhi, the 31st October, 2019
No. 28 /2015-2020
Subject: Amendment in Chapter 7 of the Foreign Trade Policy 2015-2020 –regd.
S.O. 3963(E):—In exercise of powers conferred by Section 5 of Foreign Trade (Development & Regulation)
Act, 1992 (No. 22 of 1992, as amended from time to time), the Central Government hereby makes the following
amendments in Chapter 7 of the Foreign Trade Policy 2015-20 with effect from 5.12.2017:
Para No. Existing Provision Amended Provision
7.03(b) Deemed Export Drawback for BCD Deemed Export Drawback
7.06 Conditions for refund of deemed export Conditions for refund of deemed export
drawback drawback
Supplies will be eligible for deemed export Supplies will be eligible for deemed export
drawback as per para 7.03 (b) of FTP, as under: drawback as per para 7.03 (b) of FTP, as under:
The refund of drawback in the form of Basic Refund of drawback on the inputs used in
Customs duty of the inputs used in manufacture manufacture and supply under the said category
and supply under the said category shall be given can be claimed on ‘All Industry Rate’ of Duty
on brand rate basis upon submission of Drawback Schedule notified by Department of
documents evidencing actual payment of basic Revenue from time to time provided no CENVAT
custom duties credit has been availed by supplier of goods on
excisable inputs or on ‘Brand Rate Basis’ upon
submission of documents evidencing actual
payment of basic custom duties.
Effect of this Notification: Refund of drawback of Duty paid on inputs is also allowed on All Industry Rate.
[F. No. 01/92/180/21/AM-19/PC-VI]
B. B. SWAIN, Director Gen. of Foreign Trade
& Ex-Officio Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.