Notification on last date of submitting applications for scrip based FTP schemes and validity period of Duty credit scrips (dated – 16.09.2021) – Ministry of Commerceand Industry

• 17th, September 2021
• compfie_wp
• Comments (0)

View Pdf

Notification on last date of submitting applications for scrip based FTP schemes and validity period of Duty credit scrips (dated – 16.09.2021) – Ministry of Commerceand Industry

• The following paragraphs are inserted in the FTP 2015-20 after paragraph 3.13:
• 13A: Last Date of Submitting Applications for Scrip based Schemes a. In supersession of the existing laid down provisions in the Hand Book of Procedures, 2015-20 with regard to last date for submitting online applications for scrip based claims, the last date for submitting online applications stands revised to 31st December 2021 for the following schemes i.e. for MEIS (for exports made in the period (s) 01.07.2018 to 31.03.2019, 01.04.2019 to 31.03.2020 and 01.04.2020 to 31.12.2020),
• for SEIS (for service exports rendered for FY 18-19 and FY 2019-20),
• for 2 % additional ad hoc incentive (under para 3.25 of the FTP – for exports made in the period 01.01.2020 to 31.03.2020 only),
• for ROSCTL (for exports made from 07.03.2019 to 31.12.2020) and
• for ROSL (for exports made upto 06.03.2019 for which claims have not yet been disbursed under scrip mechanism). After 31.12.2021, no further applications would be allowed to be submitted and they would become time-barred. Late cut provisions shall also not be available for submitting claims at a later date.
• In supersession of the laid down provisions on applicable late cut as in para 9.02 of the HBP, the new late cut for applications submitted upto 31.12.2021 as indicated above shall be:
• • Scheme – MEIS – Period of Exports (Let Export Date in the period) / Services rendered in the period – FY 2018-19 (01.07.2018 to 31.03.2019) -Late Cut (as % age of Entitlement under the Scheme ) -10%.
  • Scheme-MEIS-Period of Exports (Let Export Date in the period) / Services rendered in the period – FY 2019-20 and FY 2020-21 (upto 31.12.2020) Late Cut (as % age of Entitlement under the Scheme )-Nil.
  • Scheme -SEIS -Period of Exports (Let Export Date in the period) / Services rendered in the period-5 %. Scheme-SEIS-Period of Exports (Let Export Date in the period) / Services rendered in the period-FY 2019-20-Late Cut (as % age of Entitlement under the Scheme)-Nil.
  • Scheme-ROSCTL-Period of Exports (Let Export Date in the period) / Services rendered in the period-07.03.2019 to 31.12.2020-Late Cut (as % age of Entitlement under the Scheme)-Nil.
  • Scheme-ROSL-Period of Exports (Let Export Date in the period) / Services rendered in the period-Upto 06.03.2019-Late Cut (as % age of Entitlement under the Scheme)-Nil.
  • 13B: Validity Period of Scrips
  • In supersession of existing laid down provisions regarding validity of a Duty Credit Scrip in Hand Book of Procedures (HBP) 2015-20, the new validity period of a Duty Credit Scrip issued on or after 16.09.2021 shall be 12 months from the date of issue, for scrip based Schemes under chapter 3 and chapter 4 of the Foreign Trade Policy (FTP) 2015-20 or the earlier FTPs.

   

  • Effect of this Notification: The last date of submitting applications under MEIS, SEIS, ROSCTL, ROSL and 2% additional ad hoc incentive (under para 3.25 of FTP) has been notified to be 31.12.2021, in supersession of any such provision in the Hand Book of Procedures, 2015-20 going forward. Further, the validity of any scrip issued under FTP from the date of this Notification have been notified to be 12 months from the date of issue, in supersession of validity provisions in the Handbook of Procedures, 2015-20.