POLICY CIR NO. 98/2008, DT. 10/08/2009
- Document type
- Circular
- Reference no.
- L
- Dated
Modification of Policy Circular No. 51 (RE-2008) / 2004-2009 dated 6th January, 2009
Modification of Policy Circular No. 51 (RE-2008) / 2004-2009 dated 6th January, 2009.
In this regard, it has been observed that discounts (offered to foreign buyers) do not form part of FOB value. Thus, FOB value on which the entitlement would be computed under Chapter 3 reward schemes would exclude discounts. Hence the phrase the computation of entitlement is to be done on the FOB value of exports inclusive of commissions and discounts, if any. in Policy Circular No. 51(RE-2008)/2004-2009 dated 6th January, 2009 is amended to read as the computation of entitlement is to be done on the FOB value of exports inclusive of foreign agency commission.
This issues with the approval of the DGFT.
Sd/-
(A K Singh)
Joint Director General of Foreign Trade