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Discussion > Custom >

What is status holder incentives scripts

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student

[ Scorecard : 180]
Posted On 11 November 2011 at 14:37 Report Abuse

Hello...

I want to know about status holder incentive scriptts scheme how it work's.


Online classes for CA CS CMA



RAMESH KUMAR VERMA
CS PURSUING

[ Scorecard : 42815]
Posted On 11 November 2011 at 15:29

The Director General of Foreign Trade (DGFT) has notified the procedures for claiming the duty credits under the Status Holder Incentive Scheme (SHIS).

Under the SHIS announced last year, status holders are eligible for duty credit for 1 per cent of the FoB value of exports during 2009-10 and 2010-11. For exports during the year 2009-10, the scrips can be claimed till March 31, 2011, and for exports made during 2010-11, the scrips can be claimed till March 31, 2012.

The SHIS scrip is not transferable but the supporting manufacturer’s name can be endorsed on the scrip and upon such endorsement, the supporting manufacturer can use the scrip as a co-licensee. For getting the name of the supporting manufacturer endorsed, the merchant exporter (in whose name export proceeds are realised) will have to furnish necessary documents such as shipping bill.

The SHIS scrips can be used for duty payment on import of capital goods relating to the specified sectors. For this purpose, the sector’s name will have to be endorsed on the scrip. Imports of capital goods may be related to any of the select sectors mentioned in the Foreign Trade Policy (FTP), without any sector-wise value limitation. This very significant flexibility is available even if the scrip is used by listed supporting manufacturers. However, for import of any ‘restricted item’, the utilisation of the scrip will be allowed only if the beneficiary/holder has a separate licence/permission for import of the ‘restricted item’ in question.

 

Agri-Infrastructure Incentive Scrip (AIIS).

Para 3.8.6 of FTP (04-09) permitted issue of scrips against exports of agricultural exports for import of specified capital goods. This was part of the Vishesh Krishi and Gram Udyog Yojana (VKGUY) scheme. A new name has been given to such scrips in the Policy. In terms of para 3.13.4 of the Policy such scrips will now be known as Agri-Infrastructure Incentive Scrip (AIIS). The scrips issued under the scheme would be allowed for import of specified agri-equipments with actual user condition, as was the case earlier. One important change is that now, transferability of the scrips amongst status holders has been permitted for import of cold chain equipment only without breaking the actual user condition. Notification No. 94/2009-Cus dated 11.9.2009 has been issued to operationalize the scheme and may be perused for details.

 

for more info:

 

http://www.cbec.gov.in/customs/cs-circulars/cs-circulars09/circ26-2k9-cus.htm



Total thanks : 2 times




shivam deval
student

[ Scorecard : 180]
Posted On 14 November 2011 at 13:20

Thank you sir




RAMESH KUMAR VERMA
CS PURSUING

[ Scorecard : 42815]
Posted On 14 November 2011 at 13:35

WELCOME  FOR PUTUP YOUR QUERY IN CA CLUB INDIA.............



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