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Date: 29-May-2023 Category: Extra Ordinary State: Union Government Country: India

Syncing of ITC (HS), 2022 Schedule 1 (Import Policy) with Finance Act 2023 (No.8 of 2023) dated 31.03.2023 and Foreign Trade Policy, 2023

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • The gazette notification announces amendments to the ITC (HS) 2022, Schedule-I (Import Policy) to align it with the Finance Act 2023 and the Foreign Trade Policy 2023. These changes are effective immediately.

Key Changes

  • ITC (HS) codes and related policy conditions have been inserted, deleted, amended, split, or merged in Schedule-I (Import Policy) in accordance with the Finance Act 2023. The specific list of these changes is in Annexure-I.
  • Amendments have been made to the Section Notes, Chapter-wise Main Notes, Supplementary Notes, Chapter headings, sub-headings, and descriptions of ITC (HS) codes, as detailed in Annexure-II.
  • ITC (HS) specific policy conditions and Chapter-specific policy conditions under Schedule-I (Import Policy) have been amended in accordance with the Foreign Trade Policy 2023. The specific list of these changes is in Annexure-III.
  • All references to 'FTP (2015-20)' in the ITC (HS) 2022, Schedule-I (Import Policy) are now to be read as 'FTP 2023'.
  • The updated ITC (HS) 2022 is available on the DGFT website (https://dgft.gov.in).

Impact Analysis

Importers and Exporters

  • Specifically, businesses should pay close attention to Annexure-I (changes to ITC(HS) codes), Annexure-II (amendments to notes and descriptions), and Annexure-III (changes to specific policy conditions).

Customs Brokers and Trade Facilitators

  • Trade facilitators need to update their software and systems to reflect the latest ITC (HS) codes and related information.

Government Agencies (DGFT, Customs)

  • Government agencies should conduct outreach programs and workshops to educate businesses about the changes and address any queries or concerns.

Legal and Compliance Departments

  • They need to update internal policies and procedures to reflect the changes and provide guidance to relevant departments within their organizations.

Key Entities Referenced

Central Government: The entity issuing the notification and responsible for amending the ITC (HS) 2022, Schedule-I (Import Policy). Directorate General of Foreign Trade (DGFT): The agency responsible for implementing and overseeing foreign trade policies and making the updated ITC (HS) 2022 available on its website. Ministry of Commerce and Industry: The ministry under which the Department of Commerce and DGFT operate; the notification is issued with the approval of the Minister of Commerce & Industry. Foreign Trade (Development and Regulation) Act, 1992: The primary legislation that empowers the Central Government to regulate foreign trade. Finance Act 2023: The act that necessitates the syncing of the ITC (HS) codes. Foreign Trade Policy 2023: The prevailing foreign trade policy that the ITC (HS) codes are being aligned with. ITC (HS) 2022, Schedule-I (Import Policy): The document being amended, which contains the classification of goods for import purposes and related policy conditions.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-29052023-246141 xxxGIDHxxx CG-DL-E-29052023-246141 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 2254] नई दिल्ली, सोमवार, मई 29, 2023/ज्य ष्े ठ 8, 1945 No. 2254] NEW DELHI, MONDAY, MAY 29, 2023/JYAISHTHA 8, 1945 ubZ fnYyh] 29 ebZ] 2023 I .—fons”k O;kikj uhfr] 2023 ds iSjk 1-02 vkSj 2-01 ds lkFk ifBr fon”s k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e] 1992 ¼le;&le; ij ;Fkk la”kkfs/kr½ dh /kkjk 5 ds lkFk ifBr /kkjk 3 }kjk iznÙk “kfDr;ks a dk iz;ksx djr s gq,] dsUnz ljdkj ,rn~}kjk ^vkbZVhlh ¼,p,l½] 2022] vuqlwph&I ¼vk;kr uhfr½* dks foÙk vf/kfu;e] 2023 ¼2023 dh la- 8½ fnukad 31-03-2023 ds ledkfyd cuku s gsrq fuEukulq kj la”kksf/kr djrh gS& 2- foÙk vf/kfu;e] 2023 dh ledkfydrk e as vkbZVhlh ¼,p,l½ dkMs 2022 eas “kkfey fd, x,@gVk, x,@la”kkfs/kr fd, x,@foHkkftr fd, x,@foy; fd, x, vkbZVhlh ¼,p,l½] dksMks a vkSj lacaf/kr uhfrxr “krksZa dh lwph blds lkFk ¼vuqyXud I½ layXu gSA 3- foÙk vf/kfu;e] 2023 dh ledkfydrk eas vkbZVhlh ¼,p,l½ dkMs dh [kaM fVIif.k;ks]a v/;k; okj eq[; fVIif.k;ks]a iwjd fVIif.k;ks] v/;k; “kh’kZd] mi”kh’kZd vkSj fooj.k esa la”kks/ku blds lkFk ¼vuqyXud II½ layXu gSA 4- fon”s k O;kikj uhfr] 2023 dh ledkfydrk eas la”kksf/kr vkbZVhlh ¼,p,l½ 2022] vuqlwph&I ¼vk;kr uhfr½ ds rgr vkbZVhlh ¼,p,l½ fof”k’V uhfrxr “krkZs a vkSj v/;k; fof”k’V uhfrxr “krkZs a dh lwph blds lkFk ¼vuqyXud III½ layXu gSA 3401 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 5- vkbZVhlh ¼,p,l½ 2022] vuqlwph&I ¼vk;kr uhfr½ es a ^,QVhih ¼2015&20½^ ds fdlh Hkh mYy[s k dks ^,QVhih 2023* ds :i eas la”kksf/kr dj i<+k tk,A 6- v|frr vkbZVhlh ¼,p,l½ 2022] Mhth,QVh dh osclkbV ¼https://dgft.gov.in½ ij miyC/k gksxkA vkbZVhlh ¼,p,l½ 2022] ¼vulq wph&I½ vk;kr uhfr dks foÙk vf/kfu;e 2023 vkSj fons”k O;kikj uhfr 2023 ds ledkfyd la”kksf/kr fd;k x;k gSA ;g rRdky izHkko ls ykxw gksxhA bls okf.kT; ,oa m|ksx e=a h ds vuqeksnu ls tkjh fd;k tkrk gSA [Qk- la- 01@89@180@27@,,e&21@ihlh&2¼,½@ikVZ&I@bZ&31913] larks"k dqekj lkjaxh] egkfuns'kd fons'k O;kikj vkSj inus vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 29th May 2023 No. 08/2023 Subject : Syncing of ITC (HS), 2022- Schedule-1 (Import Policy) with Finance Act 2023 (No.8 of 2023) dated 31.03.2023 and Foreign Trade Policy, 2023 -reg. S.O. 2351(E).—In exercise of powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (as amended from time to time) read with paragraph 1.02 and 2.01 of the Foreign Trade Policy2023, the Central Government hereby amends ‘ITC (HS) 2022, Schedule-I (Import Policy)’ in sync with the Finance Act 2023 (No.8 of 2023) dated 31.03.2023 as follows - 2. The List of ITC(HS) codes and related Policy Conditions inserted/deleted/amended/split/merged under ITC(HS) 2022, Schedule-I (Import Policy) in syncwith the Finance Act, 2023 is annexed herewith (Annexure-I). 3. The amendments in the Section Notes, Chapter-wise Main Notes, Supplementary Notes, Chapter heading, sub- headings and description of ITC (HS) codes in sync with the Finance Act, 2023 are annexed herewith (Annexure-II). 4. The List of ITC(HS) specific Policy conditions and Chapter specific Policy Conditions under ITC(HS) 2022, Schedule-I (Import Policy) amended in sync with Foreign Trade Policy 2023 is annexed herewith (Annexure-III). 5. Any references to ‘FTP (2015-20)’ in the ITC(HS) 2022, Schedule-I (Import Policy) are revised to be read as ‘FTP 2023’ 6. The updated ITC (HS) 2022 shall be available on the website of DGFT (https://dgft.gov.in). Effect of this Notification: ITC (HS) 2022, (Schedule-I) Import Policy is amended in sync with the Finance Act, 2023 and Foreign Trade Policy, 2023. This shall come into force with immediate effect. This issues with the approval of Minister of Commerce & Industry. [F. No.01/89/180/27/AM-21/PC-2[A]/Part-I/E-31913] SANTOSH KUMAR SARANGI, 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.

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