The DGFT vide Public Notice No. 08/2024-25 dated June 03, 2024 , amending Appendix 6B of the FTP/HBP 2023, affecting spices under Chapter 9 of the ITC(HS) Code. The amendment states that a minimum value addition of 25% is required only if both export and import items are from Chapter 9. In all other cases, the required value addition is reduced to 15%, aligning these provisions with Chapter 4 of the FTP/HBP.
In exercise of the powers conferred under Paragraphs 1.03 and 2.04 of the Foreign Trade Policy, 2023, the Director General of Foreign Trade hereby amends Para 10 (ii) of Appendix 6B of FTP/HBP, 2023. The amendment in Appendix 6B is as follows:
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Existing Paragraph |
Amended Paragraph |
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(10) SPICES (COVERED BY CHAPTER 9 OF THE ITC(HS) CLASSIFICATIONS EXPORT & IMPORT ITEMS: OF
(ii) A minimum value addition of 25% shall have to be fulfilled. |
(10) SPICES (COVERED BY CHAPTER 9 OF THE ITC(HS) CLASSIFICATIONS EXPORT & IMPORT ITEMS: OF
(ii) A minimum value addition of 25% shall have to be fulfilled in the case of spices only where both export as well as import items pertain to Chapter 9 of the ITC(HS) Code.
(iii) In all other cases the value addition will be 15% |
Effect of this Public Notice:
To bring parity with provisions of Chapter 4 of the FTP/HBP regarding value addition for spices covered under Chapter 9 of the ITC(HS) Code, the provisions of Chapter 6 of the FTP/HBP (Appendix 6B) are being amended to the extent that in the case of spices, a minimum value addition of 25% shall have to be fulfilled only where both export as well as import item pertains to Chapter 9 of ITC(HS) Code. In all other cases, the value addition will be 15%.
The Public Notice can be accessed at: https://a2z-bucket.s3.ap-south-1.amazonaws.com/PN_08_Eng.pdf