Amendments to FTP 2015-2020 | Exemption of IGST and Compensation Cess under Advance Authorisation, EPCG and EOU scheme Continued
DGFT vide Notification number Notification No. 16 /2015-20 Dated 01 July, 2022 continued exceptions of Integrated Goods and Service Tax (IGST) and Compensation Cess under Advance Authorisation, EPCG and EOU scheme.
In exercise of powers conferred by Section 5 of FT(D&R) act 1992, read with Paragraph 1.02 of the Foreign Trade Policy, 2015-20, as amended from time to time the Central Government hereby makes following amendments in Foreign Trade Policy 2015-20.
1. Integrated Tax and Compensation Cess under Advance Authorization as per Para 4.14 of FTP 2015 -20 is exempted as provided in the Notification No. 37/2022-Customs dated 30th June 2022 issued by Department of Revenue.
2. Integrated Tax and Compensation Cess under EPCG scheme as per Para 5.01 (a) of FTP 201520 is exempted as provided in the Notification No. 37/2022-Customs dated 30th June 2022 issued by Department of Revenue.
3. Integrated Tax and Compensation Cess under EOU scheme as per Para 6.01(d)(ii) of FTP 2015-20 is exempted as provided in the Notification No. 37/2022-Customs dated 30th June 2022 issued by Department of Revenue.
Effect of this Notification: Para 4.14, Para 5.01(a) and Para 6.01(d)(ii) of FTP 2015-20 are amended as above to provide exemption from Integrated Tax and Compensation Cess.