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16(RE-2009)/2009-14, Dated: 13/11/2009

GOVERNMENT OF INDIA

DEPARTMENT OF COMMERCE

DIRECTORATE GENERAL OF FOREIGN TRADE

UDYOG BHAWAN, NEW DELHI – 110 011

Circular No. 16 /2009-2014 Dated:13.11.2009

Jt.DGFTs,

All RAs

Subject: Clarification regarding Foreign Exchange earnings to be counted for redemption of EPCG Authorizations issued to Service Provider.

A representation has been received from Zonal Joint Director General of Foreign Trade, Mumbai Office seeking clarification regarding calculation of Foreign Exchange earned for redemption of EPCG Authorizations issued to Service Providers in terms of provisions of Circular No. 25 dated 01.01.2008.

2. The matter has been examined and it is clarified that Policy Circular No. 25 dated 01.01.2008 has specifically been issued for the Served From India Scheme (SFIS) and is not applicable to the EPCG Scheme. EPCG authorizations may be issued and redeemed as per the provisions of Chapter 5 of FTP & HBP Vol.I.

3. All Regional Authorities are therefore informed that the provisions of Circular No. 25 dated 01.01.2008 are not to be applied for redemption of EPCG Authorizations.

This issues with the approval of Director General of Foreign Trade

Sd/-

(Akash Taneja)

Joint Director General of Foreign Trade

(Issued from File No. 01/36/218/43/AM10/PC.V/EPCG.II

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Who We Are

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.

Goods & Service Tax

Our core competence is statutory compliance, advisory, corporate tax planning and appellate matters of direct and indirect taxesandcorporate training sessions on GST.

The senior partner of the firm has to his credit several professional publications viz., Delhi Sales Tax Right to Use Goods Act, Delhi VAT, Maharashtra VAT, West Bengal VAT, Haryana VAT published by Taxmann. Madhya Pradesh VAT and Chhattisgarh VAT were published by Suvidha Law House, Bhopal. He has also addressed seminars on indirect taxes organized by professional bodies like ICAI, IMA, NIFM etc. and has also contributed articles on subjects of pro. . . . .