DGFT Extends Utilisation of 4% Re-credited SAD Till 30 September 2013 by Exporters

[DGFT Public Notice No. 06 dated 18^th April 2013]

Subject: Procedure for refund / revalidation of DEPBs/Reward Scrips for re-credit of 4% CVD (SAD).

In exercise of powers conferred under Para 2.4 of the Foreign Trade Policy, 2009-14, the Director General of Foreign Trade hereby amends Paragraph 2.13.2A of the Handbook of Procedures (Vol.1), 2009-14 by substituting contents of the said para with the following:-

“(i.) Only for the purpose of utilisation of re-credit of 4% Special Additional Duty (SAD) of customs, the freely transferable duty credit scrips (including DEPB), shall be deemed to have been revalidated till 30.09.2013. No further endorsement by the respective RA on such scrips shall be required.

(ii.) If the consolidated certificate (Credit Note) has already been issued by Customs or gets issued by 30.06.2013, then the amount (4% SAD) indicated in the consolidated certificate by customs shall be deemed to have been re-credited in the scrips in such cases, without any further reference to any RA of DGFT. “

2. This is the last and final extension to use the re-credited scrips. No further extension shall be considered by the Government under any circumstances. Importers desirous of such refund in future must make the payment of SAD in cash. 

Effect of Public Notice

The exporters will now be able to utilize 4% re-credited SAD till 30.09.2013. No further endorsement is required from RA for revalidation.   No further extension would be considered.