The issue pertains to the interpretation of the provisions of FTP – 2009-14 in relation to Served From India Scheme. One side represented by multinational brands like Yum Restaurants,Several Hotels like Le Meridian, Johnson and Johnson and ThyssenKrupp, engaged in export of services while other side is represented by DGFT stating that they are not entitled to the Duty Credit scrip under the Served from India Scheme as theyare not promoting Indian Brands.

Delhi HC says they should getit while Mumbai HC says NO. Now, Multinational will need to approach big daddy supreme court and litigation will continue…………

What will happen to those who have already encashed it?