New Delhi, Oct 5 (KNN) The Directorate General of Foreign Trade (DGFT) has done away with the value limit for exports through post but has fixed Rs 5 lakh cap in case of overseas shipments through courier services.

In a recent notification, DGFT has said that the value limit stipulated on exports through post…has been done away with. The value limit of Rs 5 lakh will be applicable only in case of courier exports.

Meanwhile, in a separate notification, DGFT had said imports under three duty exemption schemes — advance authorisation, EPCG (export promotion capital goods), and EOU (export oriented units) — would be exempted from integrated goods and services tax (IGST) and compensation cess till March 31, 2019.

Earlier this year, DGFT had extended the exemption from Integrated Goods & Services Tax (IGST) and Compensation Cess under these three schemes till October 1, 2018.

Objectives of these schemes are to promote exports, enhance foreign exchange earnings, attract investment for export production and employment generation.