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of <h1>India Updates Foreign Trade Policy: Duty Credit Scrips Can Offset Custom Duties for Export Obligation Defaults.</h1> The Government of India has amended Paragraph 3.18(a) of the Foreign Trade Policy (FTP) 2015-2020 to clarify the use of Duty Credit Scrips. These scrips can be used to pay Custom Duties in cases of Export Obligation (EO) defaults for authorizations issued under Chapters 4 and 5 of the FTP, including those from previous policies. However, penalties and interest must still be paid in cash. This amendment aims to provide clearer guidelines on the utilization of Duty Credit Scrips for such payments.
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