Covid impact: Govt extends current foreign trade policy till September 30

Exemption from payment of IGST and compensation cess on the imports made under advance authorisations and by export oriented units has also been extended

The union commerce ministry on Wednesday announced the extension of the existing foreign trade policy by another six months to support exporters dealing with Covid-19 related uncertainties. The policy was scheduled to lapse on March 31.

Last year, the government had extended the foreign trade policy 2015-20 till 31 March, 2021, to help exporters tide over the outbreak of covid-19. Through the extension, it had then continued to offer existing incentives under various export promotion schemes.

In the past, the government had said that the new policy will come into effect from April 1, 2021 for a period of five