IGST and Compensation cess exemption under Advance Authorisation, EPCG and EOU scheme to continue till June 30

New Delhi, April 11 (KNN) The Integrated Good and Service Tax (IGST) and Compensation cess exemption under Advance Authorisation, EPCG and EOU scheme have been extended till 30th June 2022.

The extension was announced by the Director General of Foreign Trade (DGFT) with regards to the Amendments to Foreign Trade Policy 2015-2020.

All the schemes have received an extension of three months starting from 1st April 2022.

Advance Authorisation Scheme allows duty free import of inputs, which are physically incorporated in an export product and the role of Export Promotion Capital Goods (EPCG) Scheme is to facilitate import of capital goods for producing quality goods and services and enhance India's manufacturing competitiveness.

Under EOU Scheme, manufacturing or service sector units are allowed to be set up with the objective of exporting entire production of goods manufactured or services except limited sale in Domestic Tariff Area (DTA) as provided under the Foreign Trade Policy (FTP). (KNN Bureau)