Photo: Mint
Photo: Mint

Advance authorisation scheme: Govt extends exemption to imports till 31 March

A clause in the foreign trade policy was amended to remove pre-import condition to avail exemption from integrated tax and compensation cess and the tax and cess is also extended to deemed supplies, the directorate general of foreign trade (DGFT) said in a notification

New Delhi: The government on Thursday extended till March 31 exemption to imports from integrated tax and compensation cess under the advance authorisation scheme.

This exemption had ended in October last year.

A clause in the foreign trade policy was amended “to remove pre-import condition to avail exemption from integrated tax and compensation cess" and the tax and cess is also “extended to deemed supplies," the directorate general of foreign trade (DGFT) said in a notification.

Advance authorisation is issued to allow duty-free import of input, which is physically incorporated in export product.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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