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The government has notified various export items eligible for duty credit scrip equivalent to 5% of fob value of exports under Vishesh Krishi Upaj Yojana, a new scheme which was announced by Shri Kamal Nath, Union Minister of Commerce & Industry, as part of the Special focus Initiative for agriculture in the Foreign Trade Policy announced by him on 31st August, 2004. The export items eligible for these benefits include Plants, Bulbs, Roots, Cut Flowers, Edible Vegetables, Edible Fruits & Nuts, Spices and Minor Forest Product. The export of Tea & Coffee has however excluded for the purposes of these benefits.
The items under the scheme have been notified by the Directorate General of Foreign Trade (DGFT) vide notification Nos. 15 & 16/2004-09 and Public Notice No.41/2004-09 dated 4/1/05.
The duty credit can be used for import of inputs or goods including Capital Goods provided the same are freely importable under ITC (HS) Classifications of Export and Import items. However, Vegetables with duty of more than 30%, Coconut, Areca Nut, Oranges, Lemon, Fresh Grapes, Apple, Pears, Spices, Pepper, Tea, Coffee, Oil Seeds cannot be imported against these Scrips. Natural Rubber has also been excluded from the import list against these Scrips.
SB/MRS
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