In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy, 2015-2020, the Central Government hereby makes the following amendments in the Foreign Trade Policy 2015-2020 with immediate effect: –
Para no. 3.08(b) of FTP 2015-20 i.e Such service provider should have minimum net free foreign exchange earnings of US$ 15,000 in preceding financial year to be eligible for Duty Credit Scrip. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$ 10,000 in preceding financial year has been Amended i.e Such service provider should have minimum net free foreign exchange earnings of US$15,000 in year of rendering service to be eligible for Duty Credit Scrip. For Individual Service Providers and sole proprietorship, such minimum net free foreign exchange earnings criteria would be US$10,000 in year of rendering service.
Notification No: 8/2015-2020- Dated: May, 24 2018
Effect of this Notification: The provision in Para 3.08(b) FTP 2015-2020 relating to the threshold level of earnings has been amended to bring in clarity.
Read More at: http://dgft.gov.in/Exim/2000/NOT/NOT18/Notification%20No.%208%20-English.pdf