LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

FOCUS PRODUCT SCHEME

Ram kr. (Buisness) (883 Points)

03 March 2011

Dear Sir,

Can we take cenvat credit on focus product scheme just like as depb scheme. Pl tell notification if so.

Thanks

Reply
Follow
Share

11 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 04 March 2011

The objective of the Focus Market Scheme is to offset the high freight cost and other disabilities to select international markets with a view to enhance our export competitiveness to these countries.

Exports of all products to the notified countries shall be entitled forduty credit scrip equivalent to 2.5% of the FOB value of exports for each licensing year commencing from 1st April, 2006. The scrip and the items imported against it would be freely transferable.

Under the Scheme, export to all countries as specified in the Handbook of Procedures (Vol. I) shall qualify for export benefits with certain exceptions as outlined.

The Duty Credit may be used for import of inputs or goods including capital goods, provided the same is freely importable under ITC (HS).

Exporters shall have the option to apply for benefit either under the Focus Market Scheme or under the Focus Product Scheme or under Vishesh Krishi and Gram Udyog Yojana in respect of the same exported product/s.

Appendix 37C - List of Notified Markets under Focus Market Scheme

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 04 March 2011

The objective of the Focus Product Scheme is to incentivise export of such products which have high employment intensity in rural and semi urban areas so as to offset the inherent infrastructure inefficiencies and other associated costs involved in marketing of these products.

Exports of notified products to all countries shall be entitled for duty credit scrip equivalent to 1.25% of the FOB value of exports for each licensing year commencing from 1st April, 2006. The scrip and the items imported against it would be freely transferable.

Under the Scheme, export of such products as specified in the Handbook of Procedures (Vol. I) shall qualify for export benefits with certain exceptions as outlined.

The Duty Credit may be used for import of inputs or goods including capital goods, provided the same is freely importable under ITC (HS).

Exporters shall have the option to apply for benefit either under the Focus Market Scheme or under the Focus Product Scheme or under Vishesh Krishi and Gram Udyog Yojana in respect of the same exported product/s.

Appendix 37D - List of Notified Products under Focus Product Scheme

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 04 March 2011

/experts/duty-drawback-not-admitted-as-cenvat-credit-has-been-availed-610420.asp

Ram kr. (Buisness) (883 Points)
Replied 04 March 2011

You mean to say that we cant take cenvat credit on focus product scheme.

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 05 March 2011

duty drawback is scheme for return back the "import duty" or "excise duty" contents in inputs used in the export goods, so both can not be availed at same time.

Ram kr. (Buisness) (883 Points)
Replied 06 March 2011

Why we take cenvat credit on depb scheme? Both focus product and depb are same scheme.

Ram kr. (Buisness) (883 Points)
Replied 27 March 2011

Dear Sir,

Can you clerify regarding tarrif notification Tariff Notification No. 92/2009 11-09-2009 in which clerify regarding cenvat credit on focus product scheme.

Thanks

Attached File : 42 cenvat credit on focust product.doc downloaded: 823 times

Shiva Prajapat (PLANT ACCOUNTANT) (87 Points)
Replied 31 May 2014

Dear Sir,

We want to cenvat credit on focus product scheme, So that how to process it and Which document & application are required for the same.

How to add a new product in focus product scheme.

Thanks,

Regards,

S.R. Prajapat

Cell-9887565744

Laxmi International Export

Shiva Prajapat (PLANT ACCOUNTANT) (87 Points)
Replied 31 May 2014

Dear Sir, 1. We want to claim benefit on focus product scheme, So that how to process it and Which document & application are required for the same. 2. Which period we claim for focus product scheme & also can we claim for our SEZ Unit for same. Thanks & Regards, S.R. Prajapat Cell-9887565744 Laxmi International Export, Jaipur