Madras HC: Freedom of Religion Cannot Extend to Disturbing Peace Within Temple Premises  ||  Delhi HC: Lokpal Cannot Form a Prima Facie View on Corruption Without Hearing The Official  ||  MP High Court: DRT Cannot Restrict or Impose Conditions on a Person's Foreign Travel  ||  Bombay HC: Results of Dec 2 And 20 Local Body Election Must be Declared Together  ||  Delhi HC: Employment Disputes Cannot be Treated as Commercial Cases under the Act  ||  Supreme Court: Divorced Muslim Woman Can Reclaim Gifts Given to Husband at Marriage  ||  Supreme Court: Police and Courts Should Act as Initial Filters to Prevent Baseless Prosecutions  ||  SC: Maharashtra Can Acquire Land under Slum Areas Act, Respecting Owner's Preferential Rights  ||  Supreme Court: Excise Exemption on Cotton Fabrics is Denied if Any Related Process Uses Power  ||  NCLAT: IBC Auctions are Not Ordinary Contracts, and Market Volatility Does not Excuse Bid Defaults    

Transferability of goods imported/procured by debiting duty in SFIS scrips- (Ministry of Finance ) (27 Oct 2016)

MANU/CUCR/0050/2016

Customs

The undersigned is directed to say that transferability of goods imported/procured by debiting duty in SFIS scrips was considered by the Board in the context of reconciling the Department of Commerce Notification No. 30/2009-2014 dated 1.8.2013 that amended FTP 2009-14 to provide that goods imported/procured under SFIS can be alienated on completion of 3 years from the date of import/procurement, the judgment dated 23.5.2016 of Hon'ble Delhi High Court in Writ Petition (C) No. 1809/2016 in the matter of Greatship (India) Ltd. and the Notification nos. 92/2004-Cus and 91/2009-Cus or 34/2006-CE. The Board has also consulted with the DGFT. It is clarified that -

(a) The goods imported/procured utilizing SFIS Scrip issued in terms of FTP 2009-14 may be sold/transferred on completion of 3 years from the date of clearance of import/ procurement in terms of the Department of Commerce notification no. 30 dated 1.8.2013.

(b) In the light of the Hon'ble High Court's order and absence of specific amendment by Dept. of Commerce to the FTP 2004-09, requests for sale/transfer of goods imported/procured utilizing SFIS scrip issued in terms of FTP 2004-09 shall be considered by DGFT in terms of para 2.5 of FTP 2004-09 on merits keeping in view the spirit of the Hon'ble High Court's order to the effect that transferability of goods that have completed 3 years is not deniable only on the ground that imports were in terms of the FTP 2004-09.

(c) In view of DGFT conveying interpretation under para 2.3 of FTP 2004-09/2009-14 that the provision of transferability after 3 years is not applicable to consumables (including food items and alcoholic beverages) since such consumables are meant to be consumed in the course of day to day business of the applicant, such consumables are non-transferable even after 3 years. Hence these shall be exception to (a) and (b) above.

2. DGFT would also consider, on merits under para 2.5 of FTP 2004-09/2009-14 requests for export sale of goods any time after import/procurement, subject to such export being without claim for any export incentive, rebate, refund, drawback and/or re-credit of incentive and the bringing back into India being treated as a fresh import.

Tags : GOODS   IMPORT   DEBIT DUTY  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved