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Extension of Foreign Trade Policy and Handbook of Procedures by 6 months
Extension of Foreign Trade Policy and Handbook of Procedures by 6 months

March 31, 2021

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On 31 March 2021, DGFT notified the extension of Foreign Trade Policy 2015 – 2020 (FTP) and Handbook of Procedures 2015 – 2020 (HBP) by 6 months, i.e., till 30 September 2021.

Moreover, please note the following: 

  • Nothing has been mentioned regarding the extension of Services Exports from India (SEIS) scheme. Therefore, it may be the case that no decision on continuation of the said scheme has been taken yet.
  • Imports against for physical exports have been exempted from Integrated Tax and Compensation Cess up to 30th September 2021. 
  • Central Board of Indirect Taxes and Customs (CBIC) has notified exemption from integrated tax and compensation cess for Export Oriented Units and Software Technology Parks of India units, vide Notification No. 19/2021 – Customs dated 30 March 2021; and for imports against Advanced Authorisation (AA) and Export Promotion Capital Goods (EPCG) authorisation, vide Notification No. 23/2021 - Customs dated 31 March 2021. However, since the FTP has been extended only till 30 September 2021, it is unclear whether the integrated tax compensation cess exemption will apply beyond September 2021.
  • Validity of Status Holder Certificates issued under the FTP have been notified to be valid for a period of 5 years from the date on which application for recognition was filed OR 30th September 2021, whichever is later.
  • Norms ratified by Norms Committee (NC) in respect of AA obtained under self-declaration authorization where Standard Input Output Norms don't exist have been notified to be valid up to 30th September 2021 OR for a period of 3 years from the date of ratification, whichever is later.

For more information, kindly write to garima@nasscom.in. 

 


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Garima Prakash
Deputy Manager, Public Policy and Government Affairs

Reach out to me for all things policy about e-commerce, international trade, export controls, start-ups and fintech

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