The Directorate General of Foreign Trade (DGFT) vide Notification No. 57/2015-2020 (dated 31st March 2020) has extended the applicability of Foreign Trade Policy 2015-2020 (which was set to expire on 31st March, 2020) upto 31st March, 2021.
Important highlights of Notification No. 57 are mentioned below:
- Validity of Import Authorisations under Duty Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG) Schemes extended by 6 Months from the Date of Expiry
The DGFT has extended the validity by six months of DFIAs (including transferrable DFIAs) and imports under the EPCG schemes. This applies to import authorisations where the validity period for imports will expire between 1st Feb and 31st July 2020.
- Government to decide on continuation of SEIS on services rendered after 1st April 2020
The DGFT will decide on the continuation of SEIS benefits for services rendered after 1st April 2020, and communicate the decision subsequently.
Please refer to the copy of Notification No. 57 below for further details.
[In September 2019, NASSCOM had made key recommendations to DGFT on revision of the Foreign Trade Policy 2015-2020. A copy of our recommendations is available here.]