Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TDS :: due date for vat payment :: empanelment
Latest Circulars »
 RBI-Framework for imposing monetary penalty on Authorised Payment Systems Operators / banks under Payment and Settlement Systems Act, 2007
 RBI-Sovereign Gold Bonds 2016-17 Series III – Operational Guidelines
  Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Sovereign Gold Bond Scheme 2016 -17 – Series III
 Minutes of the Monetary Policy Committee Meeting October 3-4, 2016
 Registrations open for NCFE’s NFLAT (National Financial Literacy Assessment Test)
 Auction for Sale (Re-issue) of 7.35 per cent Government Stock 2024
 Auction of Government of India Dated Securities October 17, 2016
  Setting The Priorities Right (Shri S. S. Mundra, Deputy Governor – September 28, 2016 – at the 3rd SBI Banking and Economics Conclave in Mumbai)
  Financial Stability in a Weak Global Environment (Shri S. S. Mundra, Deputy Governor - September 22, 2016 - at the 7th SEACEN High Level Seminar for Deputy Governors in–charge of Financial Stability and Supervision, Mumbai)
 RBI issues Directions to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh – Withdrawal of Directions

Regarding verification of genuineness, of duty credit scrips issued under Chapter 3 of FTP, before registration
July, 06th 2012

Circular No.   17/2012-Customs


Government of India

Ministry of Finance, Department of Revenue

Central Board of Excise and Customs

  New Delhi dated the  5th July,2012


All Chief Commissioners of Customs

All Chief Commissioners of Customs & Central Excise/ Central Excise

All Director Generals under CBEC,

All Commissioners of Customs, Customs (Preventive)

All Commissioners of Customs & Central Excise/ Central Excise




 Sub: Verification of genuineness, of duty credit scrips issued under Chapter 3 of FTP, before registration


Attention is drawn to para 2 (e) of Circular No. 5/2010-Customs dated 16.03.2010, which reads -  As regards the duty credit scrips issued under Chapter 3 of FTP, the verification of genuineness of scrips in terms of Para 3.11.3 of the HBP v.1 shall be done before allowing registration of suchscrips. Further, the Commissioner may cause random verification of the shipping bills based on which the said duty credit scrip has been issued to ascertain the genuineness of such shipping bills. A quarterly report on the outcome of the said verification may be forwarded to the Board, which should include inter alia the details of the discrepancies noticed during the verification and the measures taken to redress such discrepancies.  This procedure will be reviewed once online transmission of the duty credit scrips issued under Chapter 3 of FTP is operationalized.


2.  The Annual Supplement 2012-13 (FTP for 2009-14) issued on 5th June 2012 has not retained the provision (before registration, authorities shall verify genuineness of duty credit scrips, from RA concerned, until EDI system of message exchange is put in place) under para 3.11.3 of the HBP, Vol. 1.


3.  The matter was reviewed by the Board. Field formations have reported that they do signature verification of issuing authority, they cross-check the particulars of the scrip with its issuance particulars available on the official website of the concerned Regional Authority (RA) of the DGFT and place in the file a copy of the print-out of details of scrip taken from the said official website, some also use fax or letter confirmation from the RA when required, and they check alerts, etc before registering the scrip. Where scrip details are not available on the official website of RA, say for example in the case of manually issued scrips or for any other reason, field formations write a letter to RA and take steps to register such scrip when written confirmation is received.


4.         Since, EDI system of message exchange has not been put in place and online transmission of duly validated duty credit scrips is not operational, it has been decided that even while the words and figures in terms of Para 3.11.3 of the HBP v.1 shall stand deleted from first sentence of para 2(e) of Circular No.5/2010-Customs, the verification of genuineness of scrips shall continue to be done as before prior to registration of suchscrips. No other aspect with respect to para (e) of Circular No.5/2010-Customs has undergone change.


5.           These instructions should be brought to the notice of all concerned by way of issuance of instructions/trade notice. Difficulty faced, if any, may be brought to the notice of the Board.       


Yours faithfully,


(Suresh Kumar)


Telefax: 011-23360581

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions