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Trade Update 16
Foreign Trade Update
A. Extension of Foreign Trade Policy and Foreign Trade Procedures upto March 31, 2021
Vide Notification no. 57/2015-2020 dated March 31, 2020 and vide Public Notice 67/ 2015-2020 dated March 31, 2020, the Foreign Trade Policy and the Handbook of Procedures have been extended till March 31, 2021 respectively. Various other amendments in extension of validity dates/ exemptions have been made throughout the Policy and Procedures, as follows:
Foreign Trade Policy
1. With respect to the eligibility criteria under Service Exports from India scheme under paragraph 3.08(a), it has been specified that the service categories eligible under the scheme and the rates of rewards on such services as rendered with effect from April 1, 2019 to March 31, 2020 will be notified separately. For the services rendered from April 1, 2020, decision on continuation of the scheme will be notified subsequently.
2. Duties exempted under paragraph 4.14 has been extended till March 31, 2021.
3. With respect to the Duty Free Import Authorisation, it has been specified that for all authorizations where the validity of import is expiring between February 1, 2020 to July
31, 2020, the validity is extended automatically by 6 months from the date of expiry.
4. For the Export Promotion Capital Goods scheme, the validity under paragraph 5.01(a) and paragraph 5.01(c) is extended till March 31, 2021.
5. Exemption for an Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) Scheme And Bio-Technology Parks (BTPs) will be extended to March 31, 2021.
Handbook of Procedures/ Foreign Trade Procedures
1. Import of unshredded scrap and installation and operationalization of Radiation Portal Monitors and Container Scanner has been extended to September 30, 2020. Such sea ports
which fail to meet the deadline will be derecognised for the purpose of import of unshredded metallic scrap w.e.f October 1, 2020.