Act Name/Rule Name: Notification of Schedule-II (Export Policy) of ITC(HS) 2022 in sync with Finance Act 2024
Applicable Rule/Section: Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992; Para 1.02 and 2.01 of the Foreign Trade Policy 2023
Type of Document: Notification
Date: 13th January 2025
Circular No./Notification No.: 50/2024-25
The Central Government has updated the export policy to align with the provisions under the Finance Act 2024. This update ensures that the export controls for various items under ITC(HS) 2022 are in sync with the latest legal requirements.
The notification revises Schedule-II (Export Policy) of ITC(HS) 2022, which provides the export policy for different product categories. It includes any specific conditions that exporters need to meet. The updated policy and the General Notes on Export Policy are now available on the DGFT website for reference.
Exporters should review the updated Schedule-II to ensure they are compliant with the new export policy. It’s important to stay informed about any changes in policy conditions to avoid any compliance issues when exporting goods from India.
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