Advance authorisation scheme: Govt extends till March 31 exemption to imports

The government Thursday extended till March 31 exemption to imports from integrated tax and compensation cess under the advance authorisation scheme.

This exemption had ended in October last year.

A clause in the foreign trade policy was amended "to remove pre-import condition to avail exemption from integrated tax and compensation cess" and the tax and cess is also "extended to deemed supplies," the directorate general of foreign trade (DGFT) said in a notification.

Advance authorisation is issued to allow duty-free import of input, which is physically incorporated in export product.