Export incentives for motor vehi. parts
Querist : Anonymous
Presently, we are availing DBK, EPCG and MLFPS Export incetives.
What we avail except abovementioned incentives for Export?
THERE ARE TWO EPCG SCHEME, ONE WITH 0% CUSTOMS DUTY AND ANOTHER WITH 3% CUSTOMS DUTY. IF YOU ARE A STATUS HOLDER IN EXPORTS AND AVAILING 3% EPCG SCHEME, THEN YOU CAN AVAIL ANOTHER EXPORT INCENTIVE WHICH IS CALLED STATUS HOLDER INCENTIVE SCRIP ( SHIS), UNDER THIS MOC GIVES A LICENCE EQUIVELLENT TO 1% OF OVERALL EXPORTS ON ONE FY AND THIS LICENCE CAN BE UTILISAED FOR IMPORTS OF CAPITAL GOODS.
PL READ SHIS SCHEME IN EXIM POLICY
Querist : Anonymous
We are a status holder.
Is SHIS scheme is eligible (Ch. Code 87089900) for Motor Vehicle parts / Auto Parts?
Please reply.
YOU CAN AVAIL THIS PROVIDED YOU ARE A STATUS HOLDER AND SHOULD NOT HAVE AVAILED 0% EPCG SCHEME IN THE SAME FINANCIAL YEATR, SHIS IS NOT BASED ON EXPORT PRODUCT/ HSN.
PL READ FTP & HBP AND REVERT IF YOU HAVE ANY QUERY
Querist : Anonymous
Thanks for reply.
FTP Chapter No. 3.16.4. (iv) “Status Holder of Engineering sector (excluding Iron & Steel, Nonferrous Metals in primary or intermediate forms, Automobile & two wheelers, nuclear reactors & parts and ships, Boats and Floating Structures) shall be eligible for the Status Holder Incentive Scrip (SHIS).”
According to above para of FTP automobile sector is exclude from SHIS. We are exporting MOTOR VEHICLE PARTS / AUTOMOBILE PARTS (HS CODE 87089900)
Please confirm once again sir.
Can we avail SHIS in next F.Y. year if we not get 0% EPCG in next year ?
Your information will be goldust for us to next year plan to check profitability.
Querist : Anonymous
Thanks for reply.
FTP Chapter No. 3.16.4. (iv) “Status Holder of Engineering sector (excluding Iron & Steel, Nonferrous Metals in primary or intermediate forms, Automobile & two wheelers, nuclear reactors & parts and ships, Boats and Floating Structures) shall be eligible for the Status Holder Incentive Scrip (SHIS).”
According to above para of FTP automobile sector is exclude from SHIS. We are exporting MOTOR VEHICLE PARTS / AUTOMOBILE PARTS (HS CODE 87089900)
Please confirm once again sir.
Can we avail SHIS in next F.Y. year if we not get 0% EPCG in next year ?
Your information will be goldust for us to next year plan to check profitability.
IF YOUR SECTOR IS EXCLUDED, THEN YOU WILL NOT BE ABLE TO CLAIM . STILL SUGGEST YOU GET THE SAME CHECKED FROM FIEO, THEY HAVE BEEN REPRESENTING TO MINISTRY OF COMMERICE FOR SACTIONING SHIS BENEFIT TO ALL SECTORS.
READ BELOW......
Meeting on Sectoral Performance of Exports with Hon’ble Commerce, Industry & Textiles Minister
on Friday 7th Oct 2011”
Points for Consideration
Submitted by
Federation of Indian Export Organisations
Foreign Trade Policy (F.T.P):
1.Status Holder Incentive Scrip (SHIS)
i.Issue: Review of Conditions for utilization of SHIS Scrip to make it transferable, valid for import of inputs, domestic procurement and eligible for benefit under TUF and Zero Duty EPCG. Further, it should be extended to cover the Status Holders of all Sectors.Benefit may be given either 1% of total turnover or 5% on incremental turnover subject to increase in growth rate of 10% or more in comparison to previous year.
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