DGFT Clamps Down on Incremental Export Scheme Following Rupee Devaluation

· Only Dollar Growth to Get Incentive this Year

· Value Limits of Rs. 10 crore Set

[DGFT Notification No. 44 dated 25^th September 2013]

Subject: Amendment in Chapter 3 of Foreign Trade Policy

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. The following sub-paragraphs (i) & (ii) are added below paragraph 3.14.4.(c) as under:

“(i) Benefit of Incremental Export Incentivisation Scheme  for the last quarter of 2012-13 will be limited to 25% growth or Incremental growth of Rs. 10 crores in value, whichever is less.

(ii) Claims in excess of this value will be subjected to greater scrutiny by Regional Authority.

Effect of this Notification

Few amendments have been made in Notification No. 27 dated 28.12.2012 for claiming benefit of Incremental Export Incentivisation Scheme.