Two Year Validity to Continue for Duty Credit Scrips Issued upto 26 July 2012, 18 Months for those Issued After
[Ref: DGFT Policy Circular No. 7 (RE-2012)/2009-14 Dated 25 October, 2012]
Subject:- Para 5 of Public Notice No. 12 (RE -2012)/2009-14 dated 26th July, 2012.
The validity of Duty Credit Scrips issued under Chapter 3 was reduced from 24 months to 18 months vide Public Notice No. 12 dated 26.7.2012. This Public Notice was deemed to have been issued on 05.06.2012 so as to make these provisions consistent with the Foreign Trade Policy (FTP) announced on 05.06.2012 and to avoid inconvenience to trade and industry.
2. RAs have issued duty credit scrips during this period i.e. from 05.06.2012 to 26.7.2012 with a validity of 24 months. Keeping in view this situation and in order to avoid any increased transaction cost to exporters, it is clarified that duty credit scrips issued upto 26.07.2012 will continue to have validity of 24 months and duty credit scrips issued after 26.7.2012 will have validity of 18 months.
3. This issues with the approval of Director General of Foreign Trade.