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of <h1>Central Government Amends Foreign Trade Policy to Exempt IGST and Cess for Advance Authorisation, EPCG, and EOU Schemes.</h1> The Central Government has amended the Foreign Trade Policy 2015-2020 to exempt Integrated Goods and Service Tax (IGST) and Compensation Cess under the Advance Authorisation, EPCG, and EOU schemes. These exemptions are in accordance with Notification No. 37/2022-Customs issued by the Department of Revenue on June 30, 2022. The amendments affect Paragraphs 4.14, 5.01(a), and 6.01(d)(ii) of the policy, providing tax relief to entities operating under these schemes. The changes aim to facilitate smoother foreign trade operations by reducing the tax burden on eligible parties.
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