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A] DUTY EXEMPTION SCHEME
: As suggested by the Trade and Industry, instead of number of
schemes like Quantity Based Advance Licence (QBAL), Value Based Advance
Licence (VABAL), Special VABAL Schemes in respect of Electronics,
Engineering, Ready made Garments, Pharmaceuticals and Pass Book Scheme,
the new EXIM Policy has only two schemes i.e. Advance Licensing Scheme
corresponding to QBAL and a new scheme known as Duty Entitlement Pass
Book Scheme (DEPB).
DEPB Scheme incorporates the concept of the old Pass Book but with
simplified procedures and greater coverage and transparency in the
matter of giving credit entitlements. The entitlement rate will be
pre-determined so that the exporters at the time of exports can do their
costing accordingly. It is a transparent scheme and does away with any
discretion to the Licensing Authority or Custom Authority and can be
availed on Pre-Export/Post-Export basis.
This scheme is very easy to operate and the exporter has to come to the
Licensing Authority only once for getting the credit under post export
DEPB. This should help the exporter to a great extent as there were many
complaints of delay in getting credit under the old Pass Book Scheme.
Trade and Industry had requested for extension of old Pass Book Scheme
to other ports. Accordingly, DEPB has been extended to all the ports for
which Advance Licences facility is available.
Trade and Industry had asked for making the credit under the old Pass
Book Scheme, transferable. Under DEPB, the credit can be transferred
within the same port of Registration. This Scheme covers both
Manufacturer Exporter as well as Merchant Exporter.
B] Gem and Jewellery Schemes : Under the Gem &
Jewellery REP Scheme, third party exports have been allowed so that the
small exporters are able to market their products in the international
market and are able to claim REP licences based on disclaimer
certificate from the third party.
The facility of bulk licence for import of rough diamonds has been
further liberalized and now the bulk licence holder can import from any
source and not necessarily from DTC London.
C] Net Foreign Exchange Earning : The definition of
Net foreign Exchange earning for getting recognition as EH/TH/STH/SSTH,
for claiming SIL on NFE basis and for discharging Export Obligation
under Zero Duty EPCG Scheme, has been made simpler and unambiguous. Only
the value of licences issued excluding the value of Special Import
Licences and EPCG licences will be deducted from the FOB value of
exports to arrive at NFE. |
