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of <h1>Foreign Trade Policy 2015-2020: 'Deemed Exports' Defined, Benefits, Eligibility Criteria, and Penalties Explained</h1> The Foreign Trade Policy 2015-2020 defines 'Deemed Exports' as transactions where goods do not leave the country, and payments are made in Indian rupees or foreign exchange. These exports include supplies to specific projects and entities, such as those financed by international agencies or mega power projects. Benefits for deemed exports include advance authorisation, duty drawback, and terminal excise duty refunds, subject to conditions. The policy outlines eligibility criteria, conditions for refunds, and risk management mechanisms. Penalties apply for misrepresentation, and transitional provisions govern supplies made before and after June 30, 2017.
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