Petitioner and issue the Duty Credit
Scrip under MEIS under FTP 2015-20
as applied by the Petitioner for
exports effected ... which the Petitioner's applications for issuance of Duty
Credit Scrips under the Merchandise Export from India Scheme (for
short: "MEIS") have
appellant because Nidhi is a
bonafide purchaser of the duty credit scrips and it was not
aware of the modus operandi adopted by Shri Sharafat ... 2010- Customs dated 16.03.2010
regarding Verification of genuineness, of duty credit
scrips issued under Chapter 3 of FTP, before
registration. Paragraph 2(e) of this
export incentives under the scheme and giving different
rate of duty credit scrip concessions.
As per the policy, in order to achieve the underlying objective ... Duty credit scrip is a license to
import commodities in a duty free manner for the scrip value. The face
value of scrip so issued
allow the benefit of Merchandise Export from
India Scheme ( MEIS) duty credit scrip entitle-
ment amounting to Rs. 17,95,369:00 for five
shipping ... File no.37/21/090/80284/
AM17 DATED 09.06.2016 and duty credit scrip
entitlement amounting to Rs. 4,75,133.00 for
eleven shipping Bills carrying
Hyundai Motor India Limited, ... vs Dcit Ltu-2, Chennai on 16 March, 2022
आयकर अपीलीय
Appendix 37C of
HBPv1) shall be entitled for Duty Credit Scrip equivalent to 3% of
FOB value of exports (in free foreign exchange) for exports ... following
categories of export products/sectors shall be ineligible for Duty
Credit Scrip, under FMS scheme
(a) Supplies made to SEZ units;
(b) Service Exports
SFIS
scrips of Rs.118.44 [i.e. Rs.129.24 Cr. - Rs.10.80 Cr.
(utilized scrips)] ignoring the facts that SFIS scrips
were ... brand, instantly recognized and
respected world over.
b. SFIS provides duty credit scrips equivalent to 10% of foreign
exchange earned during a year
Policy 2015-2020 reads as under:
“3.02 Nature of Rewards
Duty Credit Scrips shall be granted as rewards under
MEIS and SEIS. The Duty Credit ... imported /
domestically procured against them shall be freely transferable.
The Duty Credit Scrips can be used for:
(i) Payment of Basic Customs Duty and Additional
Policy
2015-2020 reads as under:
3.02 Nature of Rewards
Duty Credit Scrips shall be granted as rewards ... 2085 of 2022
under MEIS and SEIS. The Duty Credit Scrips and goods
imported/domestically procured against them shall be
freely transferable.
The Duty Credit
providers of notified
services are incentivized in the form of Duty Credit Scrips at a certain
percentage of their Net Foreign Exchange ... thereby, according to the Petitioner,
entitling it to benefit of Duty Credit Scrips to the tune of Rs.71,58,109.21
under the SEIS Scheme
