GI

CA FINAL IDT CHANGES in VERSION 3.0

Amendment Sheet for Nov24 Exams

Following chapters does not contain amendments but I've

re drafted them for better presentation flow and
in version 4.0
handwhitting
other than this
sec 915 certain small changes
charge of GST
Advance Ruling additions are done here
Appeals and Revision and there just to improve
Ethical Aspects under GST the book no
impact on
the
existing content

Amendment in chapter Misc Provisions

Pg 286 in version3 notes

Add this
 Foreign Trade Policy 2023
effective from 1st April 2023
FTP A set
of guidelines instructions issued by CG in
matters related to foreign trade i.e
Import export
Aim To develop andpromote foreign Trade Regulate Import
Export favourable balance of payment

Legislation Governing FTP The Foreign Trade Development

Regulation Act 1992

Concerned Commerce and

Ministry Ministry of Industry
Attached office
Directorate General Foreign trade
of organization
Headed
by Headquarters
DAFT Directorate General
of foreign trade at Delhi
Role DGFe
of
1 Formulate Control and supervise FTP
2 Issue authorisation for import export
3 Grant Import Export Code IEC
4
Monitoring export obligation
5 Issue orders w rit interpretation provision FTP
of of

dealing with Fei

Other Authorities BIC
Ministry of Finance
RBI State Gst Departments
Import Export Goods can be broadly categorized as
of
File Restricted Prohibited
Certain items can be traded exclusively through STE
State
Trading Enterprise Eg Ongc Food Corp of
India etc
 General Provisions regarding Import Export
Exports imports free unless regulated
are

when restriction
except regulated by way of prohibition
exclusively through State
or Enterprises as
Trading
laid down in ITC HS

Importer Exporter code IEC

of goods without
No import export IEC
10 character alpha numeric number
PAN is IEC w e
f 1 7 17
IEC alloted to is
an
applicant permanent
unless cancelled DGFT
by

Import Export Restricted goods in accordance

of only
with authorisation permission
Authorisation is not a
right DAFT shall have

power to refuse to grant renew the same

Contract be in INR or Forex realisation has to
but
may
be in Forex May realise INR through VOSTRO Alc

Duty Exemption Remission Scheme

Advance Authorisation AA
scheme to import inputs used in
manufacturing of
without payment
export goods of Duty
Make application online obtain authorisation which
remains valid upto 12m from date of issue we.is
more
OR specified
Revalidation.net further period
 Material covered
Inputs consumables Physical export
fueloil catalyst Specified Deemed Export
spare material max 10 AA is now transferable
IIFvalueofAAIVausercoendi.li
on
of
BCD add duties 195T cess Exempt
I

Quantity Based on SION Std Input Output norms but

if SION not
Qty 310 Ratio shall
available then
be determined
by Regional Authority office of DAFT
Annual AA If SION available Max 3001 of FOB value

of proceeding F Y OR I crore higher

If SION not available then annual

requirement facility not available

Export experience minimum 2 years

No
Export Obligation Period 90 DAYS from import tethtion

value Addition condition Min 15

FOB value CIF value
of Export
of Import
IF value
of Import

Duty Free Import Authorization DF A

It is a post export facility import inputs used
to in

manufacture of export products fuel not allowed

DFIA issued SION has been notified
only if
Minimum value addition 20 Postfik emcompleted
 BCD exemption other duties
Only payable
DFIA is transferable No Actual user condition

Export shall completed within 12 months

be from filing
online application then DFIA issued

valid for 12 months from issue date for duty free imports

Export Promotion Capital Goods EICG scheme

Domestin Physical
imported Post
Capital Goods E_I
____ seemed exp Obligation
second Hand goods
Generial Specific
for pre during after prod
form Assembled SKD CKD Avg Export Duty saved
from Domestic Imported of 3 PFY
1 fatty
was
anyday
exported with y
95T Excise Import Duty Exempt before the newcapital
good therefore it shall
In post EPCG scheme Add fig as now
duty coifftunderstanding
weap.heaetfas.mn
credit
paid already Duty
If 751 obligationachieved
Scrips issued in halfperiod remake

Valid for 24 months for imports from date issue

of
No Revalidation

RODTEP Remission DutiesTaxes on Export Products

of
Scheme is based on
globally accepted principle that taxes
duties should not be exported
Granted rate notified as a f FOB with a value
of
cap p.ie for some items
Issued in form of transferable duty credit electronic

scrip credited to electronic credit under

ledger
customs Automated system
credit shall be used to BCD 1957
Duty only pay

Categories of exports exporters ineligible for RODTEP rebate

Export imported goods in same
of substantially same form
Exports through trans shipment via India
Products subjected to minimum export price or export duty
Restricted Prohibited
for export under FTP
Deemed Exports
Products to SEZ FTWZ units
manufactured by DTA units
Products manufactured partly wholly in a warehouse
05 65 Customs Act
of
Products manufactured exported
availing benefit of notification
relating to jobwork re export of goods supplied by
foreign supplier
Exports for which electronic documentation in ICEGATE
EDI has not been generated exports from non EDI ports
Used Goods
Products EOU EHTP BTP AA or DFIA holder
manufactured by 1001

Status Holder
Business leaders who have excelled in International trade
to
and have
successfully contributed foreign trade
Provided on the basis
of
Export Performance in FY Proceeding 3 F Y
Status category Export Pirfiiancet re
Export on export
1 Star 3 basis shall not be

2 Star 15 counted
3 Star 50
export performance is
4 Star 200 not transferable
5 Star 800

For calculating export One Star Status House

performance of
exports MSME units 150 BIS certification units located
by having
in Northeastern states including 34K Ladakh Sikkim

of fruits shall be Double

export vegetables granted
weightage

Authorisation on basis
Privileges self declaration
Fixation 60
of SION within Days
Exemption from compulsory Bank guarantees
Permission to establish bonded
private
warehouse 2 star

Sample export Free of cost upto 2

of
average annual realisation in 3
yrs
Max I err for genes jewellery
sector
 EOUS EHTPs STPs BTPs

without payment of duty

Import
Geoods custom GST

for manufacture incl repairs remake reconditioning

re
rendering of services
engineering development of
software Trading Units
investment Icr in
Only project having minimum of
be considered establishment EOU
P M shall for of
other than etc NA to EHTP Set BTP
agri handitraft
Must have positive Net Foreign exchange earning
calculated block 5
cumulatively in of yrs starting
from production

II
Deemed export
GST pig It
Refund of
paid shall be available
to another EOU EHTP STP BTP
Transfer
Unutilised treated as import for receiver
Material
Exported
in DTA with intimation to
Dispose off
custom authorities BCD GST
payment of

Deemed Exports
Goods don't leave India
recd in INR FOREX
payment
Supply to EOV STP EHTP BTP

Supply under AA DF A EPCG

Supply to mega power projects nuclear projects UN
or international organizn for official use
Merchant Exports Export Documents SB BOE shall contain
both merchant
name
of exporter original supplier
invoice BRC export order be
may inmethanthfne.tt

Merchant
trading Merchanting Trade involving shipment of
goods from one foreign country to another foreign country
without touching Indian Posts or within
shipment of goods
one specific foreign country
involving Indian intermediary
an

is allowed subject to compliance with RBI guidelines

except for goods in the CITES or under SCOMET

Developing Districts as Export Hubs

Products services with export potential in each district
identified and institutional mechanism in the form
of
District Export Promotion Committees DEPCS at district level
to be created to provide support for export promotion
and address the bottlenecks in
export
for growth
the district
A District Export Action Plan DEAD be
prepared
may
2 3
high potential products services from districts may
be prioritised and comprehensive plan for their export
be prepared and implemented
growth may

Authorized Economic Operator AEO

Entity engaged in international trade is AEO

granted
status if approved by Customs as compliant with
 Such entities
supply chain security standards are

of Indian customs
considered as trusted trade partner
extensive benefits including preferential customs
They get
treatment in terms reduced examination faster
of
deferred payment duties etc
processing
of
Towns TEE
of Export Excellence
Selected towns which are contributing handsomely to
India's producing goods of specified amount
exports by
be granted recognition as TEE
may
Provided with targeted support and infrastructure development
to maximize export competitiveness and move
up the
value chain

Import of items under Advance Authorisation/EOU/SEZ enabled without compliance to mandatory

Quality Control Orders (QCO)

Quality Control Orders (QCOs) are regulatory mandates issued by the Indian government to ensure that products meet

specific quality standards. Domestic manufacturers as well as importers need to ensure that products covered by

QCOs must not be manufactured/imported without compliance with specific standards. Enabling provisions have been

incorporated in FTP for exempting inputs imported by AA holders, EOUs and SEZ from mandatory Quality Control

Orders (QCOs). However, import of inputs under Advance Authorisation/EOU/SEZ without compliance to the

mandatory QCOs, shall be subjected to the following conditions:

i
for Advance Authorization
a Pre import condition Inputs shall be utilized in
manufacturing
export product normal allowance for wastage
of making
shall be exported under same authorization Unutilized
imports not to be transferred to DTA shall be either destroyed
or re liable to payment Int
exported of effective duty
to customs specified composition fee to DAFT
b Said Exemption shall be
specifically endorsed
in the
advance authorization upon the request holder
of Authorizh
c Allowed
for
physical exports Not Deemed Exports
d Not allowed DFIA Scheme
for
ii for EOU and SEE
No DTA clearance allowed Use inputs
only for export
production
Undertaking to be submitted at the time of importation
Allowed Not Deemed Exports
for physical exports

Other Provisions
However can be imported on applicable
custom Duties
Prohibited
Gift Import except life saving medicine or
Rakhi not gifts relating to rakhi
Permitted in
Export upto 25.00.000 a licencing year

Upto allowed
Samples Import 300.000
duty free
For seeds
vegetable
new
drugs bees
defence items authorisation required
Tea IF without authorize
upto 2000

Export Allowed Duty free

Removal from SEZ Allowed to be

of Scrap waste units
disposed off in DTA on duties
freely payment of
Second Hand Goods

used IT Assets laptop

Desktop Monitor Printer
imported from SEZ to
DTA

Happy Learning
All the best
very
CA Riddhi Baghmar