This is to update you that the Central Government has notified the
revised Foreign Trade Policy 2015-2020 which shall come into force w.e.f. 05th
December 2017.
Following are the key highlights on the amendments in the policy for
your information.
·
Rates of
incentive under Merchandise Exports from India Scheme (‘MEIS’) and Service
Exports from India Scheme (‘SEIS) have been increased for few notified goods
and services respectively. We are unable to attach the files due to size.
The same can be downloaded from the link: http://dgft.gov.in/
(Public notice 44/2017-MEIS, 45/2017-SEIS).
·
The
validity period of the duty credit scrips has been increased from 18 months to
24 months.
·
Some of the
facilities / benefits extended to exporters holding Authorised Economic
Operator (‘AEO’) certificate vide customs circulars has been formalised under
the policy. Few of such benefits are as follows:
o Facility of deferred payment of customs
duties.
o 24/7 clearances on request at all sea ports
and airports without Merchant Over-Time (MOT) charges.
o In addition to the above benefits, such
exporter can import duty free goods under a self-declaration and
self-ratification instead of getting a ratification of the Norms Committee for
inputs to be used in the manufacture of export products.
· Restriction on import
of second hand goods under EPCG scheme has been removed.
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