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7 (RE-2012)/2009-14, Dated 25/10/2012

Para 5 of Public Notice No. 12 (RE -2012)/2009-14 dated 26th July, 2012.

Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Udyog Bhavan, New Delhi.

Policy Circular No. 7 (RE-2012)/2009-14 Dated the    25^th  October, 2012

To

All Customs Authorities
All Regional Authorities,
Trade Associations.

Subject:- Para 5 of Public Notice No. 12 (RE -2012)/2009-14 dated 26^th July, 2012.

The validity of Duty Credit Scrips issued under Chapter 3 was reduced from 24 months to 18 months vide Public Notice No. 12 dated 26.7.2012. This Public Notice was deemed to have been issued on 05.06.2012 so as to make these provisions consistent with the Foreign Trade Policy (FTP) announced on 05.06.2012 and to avoid inconvenience to trade and industry.
2.         RAs have issued duty credit scrips during this period i.e. from 05.06.2012 to 26.7.2012 with a validity of 24 months. Keeping in view this situation and in order to avoid any increased transaction cost to exporters, it is clarified that duty credit scrips issued upto 26.07.2012 will continue to have validity of 24 months and duty credit scrips issued after 26.7.2012 will have validity of 18 months.
3.         This issues with the approval of Director General of Foreign Trade.

(Hardeep Singh )
Joint Director General of Foreign Trade
Email: hardeep.singh@nic.in

(Issued from F.No 01/91/180/160/AM12/PC 3)

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GST India Solution is an effort of firm of professionals who welcome implementation of GST. This is an interactiveplatformthat aspires to disseminate right knowledge to professionals, practitioners and public at large. This platform has beenfloatedbya firm of Chartered Accountants relentlessly working in field of direct and indirect taxes since early 1985.

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