POLICY CIR NO. 10/2005-09, DT. 24/06/2005
- Document type
- Circular
- Reference no.
- I
- Dated
Deemed export benefits on supplies made to projects financed by multilateral or bilateral agencies/funds covered under para 8.2(d) of Foreign Trade Policy
Deemed export benefits on supplies made to projects financed by multilateral or bilateral agencies/funds covered under para 8.2(d) of Foreign Trade Policy
2. The matter has been reconsidered in consultation with the concerned Departments. Accordingly, it is clarified that while the above stipulation is generally applicable in case of refund of excise duty, on account of the special provisions regarding Agencies/Funds covered under Appendix-13 of Handbook of Procedures and the fact that tender evaluation is without including the element of customs duty, it has been decided that subject to fulfillment of all the conditions in para 8.2(d) & para 8.4.4(ii) of Foreign Trade Policy, supply of goods to such projects would continue to get refund of excise duty without co-relating the same with CVD payable or otherwise on import. It is further clarified that supplies which fulfill the conditions of CBEC Notifications would continue to get exemption from payment of excise duty.
3. Cases which have been rejected on account of the earlier stipulation may be re-opened suo-moto and reconsidered in the light of this Circular.
This issues with the approval of Competent Authority.
(P.K.Santra)
Dy. Director General of Foreign Trade