No AU Condition on SFIS Imports after One Year

[DGFT Notification No. 30 dated 1^st August 2013]

Subject: Amendments in Para 3.12.7 of Foreign Trade Policy 2009-14 regarding SFIS.

In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendments in the Foreign Trade Policy (FTP) 2009-14 with immediate effect:

2. Paragraph 3.12.7 of FTP is amended to read as under:

Existing Paragraph: Entitlement/goods (imported / procured) shall be non transferable (except within group company and managed hotels) and be subjected to Actual User condition.

Amended Paragraph:

Entitlement/goods (imported / procured) shall be non transferable (except within group company and managed hotels) and be subjected to Actual User condition. However, these goods can be alienated on completion of 3 years from the date of import / procurement.

Effect of this Notification

Goods imported / procured against SFIS scrips can be alienated on completion of 3 years from the date of import / procurement.