GST India Solution

02(RE-2010)/2009-14, Dated: 08/10/2010

Government of India

Department of Commerce

Directorate General of Foreign Trade

Udyog Bhawan, New Delhi – 110 011

Policy Circular No. 02/2009-2014 (RE-2010) Dated: 8th October, 2010

All Regional Authorities (RAs);

All Commissioners of Customs;

Exporting Community

Subject: Clarification on the procedure to re-credit 4% Special Additional Duty (SAD) of Customs in DEPB, VKGUY, FPS, FMS, MLFPS scrips – regarding.

Attention is invited to Policy Circular No. 22 dated 3.2.2010 wherein the detailed procedure for re-credit of 4% Special Additional Duty (SAD) in the Duty credit scrip was laid down. It was stated therein that “in case the validity of the scrip is less than 6 months on the date of submission of request to the RA, the scrip may be revalidated for 6 months from the date of endorsement for utilization of the re-credit amount so allowed by the RA.”

2. Representations have been received from Trade and Industry that re-credit and revalidation of the scrips is not being allowed in cases where validity of the scrips submitted for such re-credit may have expired on or before the date of submission of the request to the Regional Authority.

3. Intention of the aforesaid provision for revalidation is to allow the utilization of the re-credited amount. Hence, it is clarified that the validity of the re-credited scrips shall be six months from the date of endorsement by Regional Authorities or the original validity of the duty credit scrip, whichever is later. This revalidation shall be irrespective of the fact as to whether the scrip has expired on or before the date of submission of the scrip to the Regional Authority. All the Regional Authorities shall take appropriate action accordingly.

4. Any difficulty in implementation of the aforesaid guidelines shall be brought to the notice of this Directorate immediately.

This issues with the approval of DGFT.

Sd/-

(Tapan Mazumder)

Joint Director General of Foreign Trade

Telefax: 011-23061050

E-mail: tmazumder@nic.in

(Issued from F. No. 01/94/180/DEPB-SAD recredit/AM10/PC-4)

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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.

Why

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. . . . .