Audit Reports

Report No.12 of 2014 - Union Government (Indirect Taxes - Customs) CHAPTER -IV ASSESSMENT OF CUSTOMS REVENUE W found from test check (June 2011 to March 2013) of records for the period April 2008 to February 2013, a few cases of incorrect...

12 of 2014 - Union Government (Indirect Taxes - Customs) Expanded form Abbreviation Focus Product Scheme FPS Foreign Trade Policy FTP Government Opium and Alkaloid Works GOAW Hand Book of Procedures HBP High speed diesel HSD Harmonised system of nomenclature HSN High sea sale HSS Indian Trade...

cost to develop suitable tracking software for the redemption of Advance Authorisation and EPCG licences within the time period stipulated in FTP. "2Chennai,JNPT,Mumbai,Kolkata Sea Customs, ACC, Bangalore, ICD,Bangalore 38 Report No. 13 of 2015 (Performance Audit) One of the objective of...

fob Free on Board FSSAI Food Safety and Standards Authority of India FTDR Act Foreign Trade Development & Regulation Act FTA Free Trade Agreement FTP Foreign Trade Policy GDP Gross Domestic Product HCCAR Handling of Cargo in Customs Areas Regulation ICD Inland Container Depot ICEGATE Indian...

13 of 2015 (Performance Audit) 1.5 Audit objectives The Performance Audit has been conducted to gain an assurance that corresponding to the FTP (2009-14): 1. the various Import and Export trade facilitation measures implemented by the Board had yielded the intended results. 2. the various...

The administrative control of the scheme is under the DoC. The benefits of the scheme are admissible under chapter 6 of FTP, and are administered by DC functioning under DoC. Director General of Foreign Trade (DGFT) is overall responsible for administering FTP. 1.2 Objectives of the scheme The...

There has been a gradual reduction in EOUs after the SEZ Act came into force in 2006-07. The FTP did not have any special provision to utilise the unique advantages of the 100 per cent EOU Scheme. 2.2 Performance of EOUs The details of annual exports annual growth rate of the country and...

23/2003 CE dated 31 March 2003, goods received from DTA under the benefit of deemed export availed under paragraph 8.3(a) and (b) of FTP should be treated as imported goods. During the scrutiny of APRs, audit observed that imports involving foreign exchange alone are reported and considered for...

Chapter 6 of FTP 2009-14 and HBP 2009-14 govern the scheme. In addition relevant provisions of Central Excise Act 1944, the Customs Act, 1961 and rules made there under and the notifications issued there under provisions of Finance Act 1994 relating to applicability of Service Tax and provision...

4.14 Applicability of central excise exemption notifications issued under 35 section 5A of the Central Excise Act, 1944 to EOU 4.15 Ambiguity in the FTP and CE notification 36 5 Conclusion 36 Appendices 39...

Commissioner DTA Domestic Tariff Area EHTP Electronic Hardware Technology Park EOU Export Oriented units FEMA Foreign Exchange Management Act FTP Foreign Trade Policy GOI Government of India HBP Hand Book of Procedure LOA Letter of Approval LOP Letter of Permission MAT Minimum Alternate...

automatically for sectoral guideline sectoral guideline Manufacturing SEZ Units Cost recovery charges Not required Yes Not required Chapter 3 of FTP Not required No Yes benefit Infrastructural and SEZ has built in To be borne by the unit NA warehousing expenses arrangements Supplies from DTA...

DGFT, employes a business critical EDI System through which most of the FTP policy provisions relating to issue of licences is carried out. Therefore a regular audit for IT security audit, Source code, Application configuration, ICT infrastructure configuration, Vulnerability assessment,...

Scrutiny of records revelaed that the unit did not utilize 35,196 kg of Tea within six months as required in FTP. Accordingly, the unit was liable to pay duty amounting to X 74.66 lakh plus interest on 35,196 kg of unutilized quantity of Tea. Instead of initiating action against...

and processes revealed several shortcomings on issues relating to systemic issues, inadequate controls, incorrect or insufficient mapping of FTP provisions, lack of validations, permissions for too many manual interventions and alterations of data and incorrect updation of important rate...

Zone EPZ Export and Import EXIM Financial year FY Fiscal Responsibility and Budget Management Act FRBM Free on Board FOB Foreign Trade Policy FTP VI Report No.8 of 2015 - Union Government (Indirect Taxes - Customs) Expanded form Abbreviation Gross Domestic product GDP Hand Book of...

are treated as ‘deemed exports’2 for the former, who become eligible for matching duty free imports under the exemption remission schemes of FTP. By the same analogy, procurement from DTA by EOU/SEZ unit should also be considered as ‘deemed imports’ for the SEZ unit. Two cases of...

In the New Annual Supplement to FTP (2004-2009), duty free import of machinery, precious metals and gems was allowed. In the Union Budget for the year 2007-08, import duty on cut and polished diamonds was abolished, import duty on un-worked corals and rough synthetic stones was reduced and all...

4.1 Limits on sub-contracted work According to paragraph 6.14 of FTP 2004-09, Our scrutiny of the records EOUs can sub-contract to DTA, upto 50 per of 61 SEZ units and 18 cent of the overall production of the previous EOUs under customs year in value terms. Similarly, SEZ Rules...

Oriented Unit EOU Export Promotion Capital Goods EPCG Foreign Trade (Development and Regulation), Act, FT (D&R) Act, 1992 1992 Foreign Trade Policy FTP Free on Board FOB Gems and Jewellery Export Promotion Council GJEPC Gross Domestic Production GDP Hand Book of Procedures HBP Indian Customs...

Performance of Special Economic Zones (SEZs) Report No. 21 of 2014 (Performance Audit) Performance of Special Economic Zones Chapter I: Introduction 1.1 Background A Special Economic Zone is a geographical region within a Nation-State in which a...

to be addressed, such as; adverse impact on development of SEZs due to imposition of MAT and DDT; non applicability of export promotional benefits of FTP to SEZs. There were difficulties in acquiring land for establishing contiguity in the SEZ for setting up large SEZs consequent upon the...

on Board/Costal Insurance/Costal Freight FPS Focus Product Scheme FSEZ Falta Special Economic Zone FTDR Foreign Trade Development & Regulation Act FTP Foreign Trade Policy FTWZ Free Trade and Warehousing Zone FY Financial Year GDP Gross Domestic Product 131 Report No. 21 of 2014 (Performance...

DGFT is assigned the role of a 'facilitator' with responsibility to implement the FTP and promote India's exports. DGFT also issues licenses to exporters and monitors their corresponding obligations through a network of 41 Regional Offices (Regional Authorities). Objectives in the Result...

Further, as per paragraph 2.4 of FTP, DGFT may specify procedure to be followed for an exporter or importer or by any licencing or any other competent authority for purpose of implementing provisions of Foreign Trade (Development & Regulation) Act, the Rules and the Orders made thereunder and...

RA may, at their discretion, call for such additional documents as may be required to satisfy themselves of the admissibility of DEPB claim as per FTP and HBP. The scrutiny of EDI data of RLA, Mumbai revealed that where licensee had filed their application electronically, licensee had not...

and Budget Management FSEZ Falta Special Economic Zone FT (D&R) Act Foreign Trade (Development & Regulation) Act, 1992 FTA Foreign Trade Agreement FTP Foreign Trade Policy GST Goods and Services Tax HBP Hand Book of Procedures ICD Inland Container Depot ICEGATE Indian Customs EDI Gateway ICES...

8 of 2013 (Performance Audit) Monthly Technical Reports and set up an internal Audit unit and to follow FTP for random checking. Recommendation 1: Internal control procedures and internal audit system of DeitY and DoC need strengthening for efficient budgeting, accounting, payment and internal...

accelerated growth of trade, with a view to double India's export of goods and services by 2014, and to double India's share in global trade by 2020. FTP, announced every five years and implemented by Director General of Foreign Trade (DGFT), provides the basic policy framework for translating...

It is implemented through formulation of appropriate trade and commercial policy. DGFT an attached office of DoC, formulates FTP, setting the annual targets of exports and implementation of programmes for increasing exports and substituting imports. FTP is meant to implement provisions of...

2.3 The objectives of the scheme have not been specifically defined though it derives its basic concept from FTP. The scheme is very old and has been operating for nearly three decades, however, its outcome has not been assessed. Committees were set up in the past by the Government to see the...

1.2 According to paragraph 6.11 (c)(i) of FTP (2004-09 and 2009-14), EOU/STP/EHTP units are entitled for reimbursement CST paid by them on purchases made from DTA for production of goods/services. The supplies from DTA to EOU/STP/EHTP units must be utilised by the units for production of...

Supply of goods to power projects and refineries not covered in paragraph 8.2 (f) of FTP; i. Supply of marine freight containers by EOU (Domestic freight containers- manufacturers) provided said containers are exported out of India within 6 months or such further period as permitted by...

5. DoC may consider introducing a provision in FTP for the claimant to certify that burden of duty has been borne by them and not been passed on to others. 6. DoC needs to make an outcome assessment of the efficacy of the scheme with regard to its performance strategy or, the revenue impact...