Directorate General of Foreign Trade (DGFT) has issued Notification No.60/2015-20 and Public Notice No. 48 dated 31st March, 2021 to extend Foreign Trade Policy 2015-20 and Handbook procedures 2015-20 till 30th September, 2021.
Key points of the Notification and Public Notice are:
1. The duration of Foreign Trade Policy (FTP), 2015-2020 and Handbook of Procedure 2015-20, incorporating provisions relating to export and import of goods and services has been extended till 30th September, 2021 instead of the current validity till 31.03.2021.
2. It has been provided that exemption from payment of IGST and Compensation Cess on the imports made under Advance Authorisations as mentioned in Para 4.14 of Foreign Trade Policy (FTP) has been extended up to 30th September, 2021.
3. Para 5.01(a) relating to EPCG scheme has been substituted to provided that Capital goods imported under EPCG Authorisation for physical exports are exempt from IGST and Compensation Cess up to 30th September, 2021 instead of earlier date of 31.03.2021.
4. Status Certificates valid beyond 31.3.2020 shall continue to remain in force, in case provisions of subsequent Foreign Trade Policy continue to recognize the status or 30.09.2021 – whichever is later.
5. Para 4.12 (vi) of the Handbook of procedure, 2015-20 has been substituted so as to state that the Norms ratified by any Norms Committee (NC) in the DGFT on or after 01.04.2015 in respect of any Advance authorization shall be valid for the entire period of the Foreign Trade Policy i.e. up to 30-09-2021 or for a period of three years from the date of ratification, whichever is later.
For further details, please refer the attached document.
Source: Directorate General of Foreign Trade
