After the 47th GST Council meeting decisions are out, the Directorate General Of Foreign Trade (DGFT) has notified the exemption of Integrated Goods and Service Tax (IGST) and Compensation Cess under Advance Authorisation, EPCG and EOU scheme by amending the Foreign Trade Policy 2015-20.
“Integrated Tax and Compensation Cess under Advance Authorization as per Para 4.14 of FTP 2015 -20 is exempted as provided in the Notification No. 37/2022- Customs dated 30th June 2022 issued by Department of Revenue.”
Integrated Tax and Compensation Cess under the EOU scheme as per Para 6.01(d)(ii) of FTP 2015-20 is exempted as provided in the Notification No. 37/2022-Customs dated 30th June 2022 issued by Department of Revenue.
Para 4.14, Para 5.01(a) and Para 6.01(d)(ii) of FTP 2015-20 are amended as above to provide exemption from Integrated Tax and Compensation Cess.
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