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of <h1>Central Government Updates Import Policy: ITC (HS) Codes Revised Under Foreign Trade Act 1992, Aligned with Finance Act 2024</h1> The Central Government, under the Foreign Trade (Development and Regulation) Act, 1992, has amended the Indian Trade Classification (Harmonised System) of Import Items, 2022 Schedule-I (Import Policy) to align with the Finance Act, 2024. The amendments include insertion, deletion, splitting, merging, and revision of ITC (HS) codes and related policy conditions, as detailed in annexures. Changes affect item descriptions, import policies, and definitions across various chapters, including provisions for specific goods such as aviation fuel, menthol, ballistic protection equipment, and electric bicycles. The updated ITC (HS) 2022 Schedule-I is effective immediately and accessible on the Directorate General of Foreign Trade website. The notification was issued with the approval of the Minister of Commerce & Industry.
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