Circular No.ES/ 53 /2015-16 January 28, 2016
To: Members of the Council
Dear Member,
We are glad to inform you that the Mumbai High Court has announced a Judgement on the issue of Incremental Export Incentivization Scheme (IEIS) after the legal proceeding.
You may be aware, that the retrospective amendments to the Incremental Export Incentivisation Scheme (IEIS) had created a lot of problems for majority of our member-exporters. The Council had also represented this issue at various foras in the concerned Ministry to get these amendments withdrawn.
With regard to the above, the Council has received a message from IEGF / FIEO giving information about the matter. It was further informed by them that in the case of Target Plus Scheme, the Supreme Court has held Retro amendments as Null and Void. EPCs were requested to take necessary action to prevent such legally unsustainable Notifications affecting exporters.
The Mumbai High Court Order has declared Retro Amendments as Null and Void.
DGFT has been directed to honour the Policy without taking cognizance of Retro amendments.
Members interested in obtaining the copy of the Mumbai High Court Judgement on the above matter are requested to contact the Council.
Thanking you,
Yours faithfully,
V.ANIL KUMAR
EXECUTIVE DIRECTOR
