The CBIC vide Notification No. 23/2021- Customs, dated March 31, 2021 has extended the exemption from the Integrated Tax and the Goods and Services Tax Compensation Cess (“Compensation Cess”) leviable on goods imported as per sub-section (7) and sub-section (9) of Section 3 of the Customs Tariff Act, 1975 against Export Promotion Capital Goods (“EPCG”) Authorization and Advance Authorisation (“AA”) under the Foreign Trade Policy 2015-20 (“FTP”) by issuing the amendments in the below mentioned notifications, in a following manner:
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S. No. |
Notification No. | Amendments |
Effect |
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1. |
Notification No. 16/2015-Customs, dated April 1, 2015 | In the said notification, in the opening paragraph, in the proviso to clause (iii), for the figures, letters and word “31st March, 2021”, the figures, letters and word “31st March, 2022” shall be substituted. | Exemption from Integrated Tax and Compensation Cess on goods imported covered by a valid authorisation issued under the EPCG Scheme under FTP will be available upto March 31, 2022. |
| 2. | Notification No. 18/2015-Customs, dated April 1, 2015 | In the said notification, in the opening paragraph, in condition (xiii), for the figures, letters and word “31st March, 2021”, the figures, letters and word “31st March, 2022” shall be substituted. |
Exemption from Integrated Tax and Compensation Cess on materials imported into India against a valid Advance Authorisation Scheme under FTP will be available upto March 31, 2022. |
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3. |
Notification No. 20/2015-Customs, dated the April 1, 2015 |
In the said notification, in the opening paragraph, in condition (xiv), for the figures, letters and word “31st March, 2021”, the figures, letters and word “31st March, 2022” shall be substituted. | Exemption from Integrated Tax and Compensation Cess on materials imported into India, against a valid Advance Authorisation for Annual Requirement under FTP will be available upto March 31, 2022. |
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4. |
Notification No. 22/2015-Customs, dated April 1, 2015 |
In the said notification, in the opening paragraph, in condition (xiii), for the figures, letters and word “31st March, 2021”, the figures, letters and word “31st March, 2022” shall be substituted. |
Exemption from Integrated Tax and Compensation Cess on materials imported into India against an Advance Authorisation Scheme for export of prohibited goods under FTP will be available upto March 31, 2022. |
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5. |
Notification No. 45/2016-Customs, dated August 13, 2016 | In the said notification, in the opening paragraph, in condition (xii), for the figures, letters and word “31st March, 2021”, the figures, letters and word “31st March, 2022” shall be substituted. |
Exemption from Integrated Tax and Compensation Cess on import of fabrics under Special Advance Authorization Scheme under FTP will be available upto March 31, 2022. |
The Notification can be accessed at: https://www.cbic.gov.in/resources/htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-tarr2021/cs23-2021.pdf;jsessionid=98069ACE73D82F86C0C2C6DB7DEF8954