Notifications 54 and 55 | FTP 2015-20

This is to update you on the recent notifications issued by the Directorate General of Foreign Trade

►     Notification No 54/2015-20 dated 22 March 2018 – FTP

·         Exemption from Integrated Tax and Compensation Cess under Advanced Authorization Scheme under Para 4.14 and under EPCG Scheme under Para 5.01(a) of FTP 2015-20 has been extended up to 01 October 2018

►     Notification No 55/2015-20 dated 23 March 2018 – FTP

·         Exemption from Integrated Tax and Compensation Cess under EOU Scheme under Para 6.01(d)(ii) of FTP 2015-20 has been extended up to 01 October 2018.

Recent amendment in FTP after the mid-term review on 05 December 2017 had granted exemption from levy of the above taxes under the above schemes till 31 March, 2018 only. The above notifications have extended the time limit by 6 months