Exemption of IGST and Compensation Cess continued under Advance Authorisation, EPCG and EOU Scheme


The DGFT vide Notification No. 16/2015-20 dated July 1, 2022 has notified the exemption from the  levy of Integrated Goods and Service Tax (“IGST”) and the Goods and Services Tax Compensation Cess (“Compensation Cess”) on various goods imported under Advanced Authorization (“AA”) Scheme as per para 4.14 of Foreign Trade Policy, 2015-20 (“FTP”), Export Promotion Capital Goods (“EPCG”) Scheme as per para 5.01(a) of the FTP, Export Oriented Unit (“EOU”) Scheme as per para 6.01(d)(ii) of the FTP, in order to continue such exemption of the IGST and Compensation Cess after June 30, 2022, in view of the Notification No. 37/2022- Customs, dated June 30, 2022, which continued the Exemption of Compensation Cess and IGST on goods imported under AA/EPCG/EOU Schemes.

The Notification can be accessed at: https://content.dgft.gov.in/Website/dgftprod/3a564764-e081-4259-8c32-2fa1262a6345/Notification%2016%20English.pdf

We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.

Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN

Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!

For more details and purchase online at: https://cutt.ly/RFMox8D

Your Thoughts