Amendment made in Foreign Trade Policy 2015-20, to avail exemption from IGST & Compensation Cess

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The Director General of Foreign Trade (“DGFT”) vide its Notification No. 53/2015-20 dated January 10, 2019 has made the following amendment in chapter 4 of the Foreign Trade Policy 2015-2020 to remove the pre-import condition and avail the exemption from Integrated Tax (IGST) and Compensation Cess leviable under section 3(7) & 3(9) of the Customs Tariff Act, 1975.

However, import under Advance authorisation are also exempt from whole of Integrated Tax and Compensation Cess leviable under section 3(7) & 3(9) of the Customs Tariff Act, 1975.

The details of duties exempted under Para 4.14 of FTP 2015 – 20 can be accessed at: http://dgft.gov.in/sites/default/files/Notification%20No.%2053%20English%2010-01-2019_0.pdf