This notification, issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, Government of India, on March 20, 2019, announces amendments to the Foreign Trade Policy (FTP) 2015-2020. Specifically, it extends the exemption from Integrated Goods and Services Tax (IGST) and Compensation Cess under the following schemes until March 31, 2020:
* Advance Authorisation Scheme (Para 4.14 of FTP 2015-2020)
* Export Promotion Capital Goods (EPCG) Scheme (Para 5.01a of FTP 2015-2020)
* Export Oriented Units (EOU) Scheme (Para 6.01dii of FTP 2015-2020)
This notification is issued in exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992.
The effect of this notification is to amend Para 4.14, Para 5.01a and Para 6.01dii of FTP 2015-20 as stated above.
The file number for this notification is F. No. 01/94/180/373/AM18/PC4. Alok Vardhan Chaturvedi, Director General of Foreign Trade & Ex-officio Addl. Secy., has issued the notification.
Key Entities Referenced
Foreign Trade Policy 2015-2020: A policy document regarding foreign trade, which is being amended in this notification.
Foreign Trade (Development and Regulation) Act, 1992: The Act that confers powers to the Central Government to make amendments to the Foreign Trade Policy.
Integrated Goods and Service Tax (IGST): A tax, exemption of which is extended under various schemes as per this notification.
Compensation Cess: A cess, exemption of which is extended under various schemes as per this notification.
Advance Authorisation: A scheme under the Foreign Trade Policy, where exemption from Integrated Tax and Compensation Cess is extended up to 31.03.2020.
EPCG Scheme: Export Promotion Capital Goods Scheme, where exemption from Integrated Tax and Compensation Cess is extended up to 31.03.2020.
EOU Scheme: Export Oriented Units Scheme, where exemption from Integrated Tax and Compensation Cess is extended up to 31.03.2020.
Alok Vardhan Chaturvedi: Director General of Foreign Trade & Ex-officio Additional Secretary
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1817 GI/20192 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi, the 20th March, 2019
No. 57 /2015-2020
Subject: Amendments to Foreign Trade Policy 2015-2020 - Extension of Integrated Goods and Service Tax
(IGST) and Compensation Cess exemption under Advance Authorisation, EPCG and EOU scheme
upto 31.03.2020.
S.O. 1400(E).— In exercise of powers conferred by Section 5 of FT(D&R) Act, 1992, read with Paragraph 1.02
of the Foreign Trade Policy, 2015-20, as amended from time to time, the Central Government hereby makes following
amendments in Foreign Trade Policy 2015-20.
1. Exemption from Integrated Tax and Compensation Cess under Advance Authorization under Para 4.14 of FTP
2015-20 is extended upto 31.03.2020.
2. Exemption from Integrated Tax and Compensation Cess under EPCG Scheme under Para 5.01(a) of
FTP 2015-20 is extended upto 31.03.2020.
3. Exemption from Integrated Tax and Compensation Cess under EOU scheme under Para 6.01(d)(ii) of FTP
2015-20 is extended upto 31.03.2020.
Effect of the Notification:
Para 4.14, Para 5.01(a) and Para 6.01(d)(ii) of FTP are amended as above.
[F. No. 01/94/180/373/AM18/PC-4]
ALOK VARDHAN CHATURVEDI, Director General of Foreign Trade Ex-officio Addl. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.