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K.R. Srivats

New Delhi , Dec. 23

THE Government has tightened the norms for availing of deemed export benefits. The Directorate-General of Foreign Trade (DGFT) has now amended exim procedures to stipulate that deemed export benefits would be available to the supplier of goods only if the recipient of goods does not take Cenvat credit on such goods.

Further, the Government has now stipulated that an application for refund of terminal excise duty should be accompanied by a "non-availment of Cenvat credit certificate" from the jurisdictional excise authority of the recipient of goods, where Cenvat credit is available on the goods supplied.

Sources said that the Government has taken these measures to safeguard revenue interests, but the stipulation on the need for the certificate has upset the exporting community.

The Federation of Indian Export Organisations (FIEO) may soon approach the DGFT seeking the withdrawal of the stipulation relating to furnishing of a certificate from the jurisdictional excise authority.

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