Revised Export Promotion Capital Goods Scheme
The revised scheme provides that Annual reporting of EO fulfillment Authorization holders shall submit to the RA concerned by 30th June of every year, a report on fulfillment of export obligation through online.
Expert Committee on Longevity Finance recommends setting up of Longevity Hub at GIFT-IFSC.
The committee examined emerging trends in the Longevity Economy globally and observed that people over 60 years old are still very much a highly productive demographic group in terms of purchasing power and make up the wealthiest part of the financial system with a global spending power of $15 trillion.
The Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2022.
Through this amendment the definition for the term Share Based Employee Benefits, subsidiary and Indian company has been notified.
DGFT has notified additional features in the scrip transfer recording module.
The original duty scrip holder are directed to register the duty credit scrip at the Port of Registration with Customs and the ‘transfer’ of scrips from one IEC to another IEC will be as per the negotiated terms & conditions between the buyer and the seller.
DGFT extends implementation date of track and trace for parent-child packaging to 31st March 2022.
All drugs manufactured by SSI or non SSI units and having manufacturing date after 01.04.2022 can be exported only if both tertiary and secondary packaging carry barcoding as applicable and the relevant data as prescribed by DGFT is uploaded on the Central Portal.
DGFT extends foreign trade policy till 30th September 2022.
FTP 2015-20 introduces two new schemes, namely ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets and ‘Services Exports from India Scheme (SEIS)’ for increasing exports of notified services.
DGFT amends the import policy condition of urea.
DGFT in its earlier notification, amended the policy condition of Urea on ITC (HS), 2017, Schedule – I (Import Policy). In addition to Rashtriya Chemicals & Fertilizers Limited (RCF), Import of Urea is allowed through National Fertilizers Limited (NFL) and Indian Potash Limited (IPL) subject to Para 2.20 of Foreign Trade Policy, 2015-2020.
DGFT Extends Integrated Good and Service Tax (IGST) and Compensation cess exemption under Advance Authorisation, EPCG and EOU scheme up to 30.06.2022.
Exemption from Integrated Tax and compensation Cess under Advance Authorization under Para 4.14 of FTP 2015 -20 is extended upto 30.06.2022.
DGFT extends validity of HBP 2015-2020
DGFT has extended the validity of the Handbook of Procedures 2015-20 till the 31st of September, 2022.
Ministry of Home Affairs extends validity of entities registered under Foreign Contribution (Regulation) Act
Validity of entities registered under Foreign Contribution (Regulation) Act whose 5-year validity period is expiring between April 1-June 30 and the NGOs that have applied for renewal before the expiry of the registration will also stand extended till June 30 or till the date of disposal of renewal application, whichever is earlier.
