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Contributed on April 8, 2020

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[Policy Update] Applicability of Foreign Trade Policy 2015 -20 extended till 31st March, 2021

Blog: NASSCOM Official Blog

The Directorate General of Foreign Trade (DGFT) vide Notification No. 57/2015-2020 (dated 31^st March 2020) has extended the applicability of Foreign Trade Policy 2015-2020 (which was set to expire on 31^st March, 2020) upto 31^st March, 2021.

Important highlights of Notification No. 57 are mentioned below:

• Validity of Import Authorisations under Duty Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG) Schemes extended by 6 Months from the Date of Expiry

The DGFT has extended the validity by six months of DFIAs (including transferrable DFIAs) and imports under the EPCG schemes. This applies to import authorisations where the validity period for imports will expire between 1^st Feb and 31^st July 2020.

• Government to decide on continuation of SEIS on services rendered after 1^st April 2020

The DGFT will decide on the continuation of SEIS benefits for services rendered after 1^st April 2020, and communicate the decision subsequently.

Please refer to the copy of Notification No. 57 below for further details.

[In September 2019, NASSCOM had made key recommendations to DGFT on revision of the Foreign Trade Policy 2015-2020. A copy of our recommendations is available here.]

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