3.17.5
- Document type
- Policy
- Reference no.
- O
- Dated
Imports Allowed/Domestic Procurement
3.17.5
Imports Allowed/Domestic Procurement
(a) Duty Credit Scrip may be used for import of inputs or goods including capital goods, provided same is freely importable and / or restricted under ITC (HS). However, import of items listed in Appendix 37B of HBPv1 shall not be permitted to be debited.
(b) Duty Credit Scrip under Chapter 3 of FTP can also be utilized for payment of duty against imports under EPCG scheme, provided the item is importable against the Scrip.
(c) Duty Credit Scrip can also be utilised for payment of Excise Duty on domestic procurement of such items as permitted to be imported under respective scheme.
(d) Duty credit scrips issued under FPS, FMS and VKGUY can be used for payment of Service Tax. Scrip holder shall be entitled to avail drawback benefits or CENVAT credit of the Service Tax debited in the said scrip in accordance with DOR rules.
(Above sub para (d) has been added vide NOTIFICATION NO. 03/2013, DT. 18/04/2013)