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ARTICLE · 13 NOVEMBER 2012

Foreign Trade Policy (FTP)

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FTP amended to provide that supply to non mega power projects shall not be entitled to any deemed export benefit.

IndiaTax
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Foreign Trade Policy (FTP)

Notification No. 107(RE-2010)/2009-2014 dated March 21, 2012

FTP amended to provide that supply to non mega power projects shall not be entitled to any deemed export benefit. Previously, benefit of deemed exports was available in respect of supplies to non mega power projects under Para 8.3(a) of FTP, viz., Advance Authorization/ Advance Authorization for annual requirement/ DFIA.

CENTRAL EXCISE, SERVICE TAX, VAT & GST

Central Excise

CCE, Surat Vs. M/s Favourite Industries [2012 TIOL 30 SC CX]

An exemption notification has to be interpreted in the light of the words employed by it and not on any other basis. A person who claims exemption or concession must establish clearly that he is covered by the provision(s) concerned and, in case of doubt or ambiguity, benefit of the same must go to the State.

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