DGFT Public Notice/ Notification/Policy Circular concerning Focus Product Scheme and Focus Market Scheme
August 27, 2008
Members of the Council
Sub : DGFT Public Notice/ Notification/Policy Circular concerning Focus Product Scheme and Focus Market Scheme
As members are aware, as per provisions of Chapter 3 of the Foreign Trade Policy (FTP) 2004-2009,duty credit scrips are issued by the DGFT for notified products under Focus Product Scheme (FPS) and for notified markets under Focus Market Scheme (FMS).
The DGFT has recently made some amendments on the operation of promotional measures including FPS and FMS implemented as per provisions of Chapter 3 of FTP. The details are given below.
1 DGFT Policy Circular No. 27 (RE-2008) dated Aug.14, 2008
This Policy Circular states that the last date for filing applications under promotional schemes including FPS and FMS will be 30.11.2008, for exports made from 1.4.2006 till 31.3.2008 and for which realizations have been made upto 31.3.2008.
For export realizations made after 31.3.2008, the applications shall be filed within a period of twelve months from the date of export or within six months from the date of realization or three months from the date of printing/release of shipping bill, whichever is later, in respect of shipments for which claim is being filed. These terms are specified in DGFT Public Notice No. 64 (RE-2008) dated Aug. 14, 2008.
The aforesaid Policy Circular No. 27 and Public Notice No. 64 are attached herewith.
2 DGFT Notification No. 31 (RE-2008) dated Aug. 19,2008
This Notification states that benefits under FPS and FMS can be claimed either by the supporting manufacturer (along with disclaimer from the company/firm who has realized the foreign exchange directly from overseas) or by the company/firm who has realized the foreign exchange directly from overseas.
Members may kindly note the above.