Amendment in Para 3.18(a) of FTP 2015-20.

(To be published in the Gazette of India Extraordinary Part |! Section 3, Sub Section (ii)) Government of India Ministry of Commerce &industry Department of Commerce Directorate General of Foreign Trade NotificationNew Dethi,No.24 4 April, _/2015-20202017 Subject: Amendment in Para 3.18(a) of FTP 2015-20.

S.O.(E) In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992, as amended, read with Para 1.02 of the Foreign Trade Policy, 2015-2020, the Central Government hereby makes the following amendments in the Foreign Trade Policy (FTP) 2015-2020 with immediate effect:

Presently, para 3.18 (a) of FTP 2015-20 reads as under:

“Duty Credit Scrip can be utilised / debited for payment of Custom Dutiesin case of EO defaults for Authorizations issued under Chapters 4 and 5 of this Policy. Such utilization /usage shall be in respect of those goods which are permitted to be imported under the respective reward schemes. However, penalty / interest shall be required to be paid in cash." After amendment the amended para 3.18 (a) of FTP 2015-20 shall read as under: “Duty Credit Scrip can be utilised / debited for payment of Custom Duties in case of EO defaults for Authorizations issued under Chapters 4 and 5 of Foreign Trade Policy. Such utilization /usage shall be in respect of those goods which are permitted to be imported under the respective reward schemes. However, penalty / interest shall be required to be paid in cash.” Effect of this Notification: Duty Credit Scrip can be utilised / debited for payment of Custom Duties in case of EO defaults for Authorizations issued under Chapters 4 and 5 of previous FTPs as well, The Para 3.18 (a) of FTP 2015-20 has been amended to bring more clarity on the utilization of Duty Credit Scrips for payment of Customs Duties in case of EO defaults, | (A. K. Bhalla) Director General of Foreign Trade E-mail: dgft@nic.in

(Issued from File No. 01/°61/180/77/AM-16/PC-3)