New Delhi, Oct 13 (PTI) The commerce ministry todayaligned certain provisions of the foreign trade policy withthe Goods and Services Tax (GST) regime by extending taxexemptions on imports.
As per the notification of the Directorate General ofForeign Trade (DGFT), goods imported under AdvanceAuthorisation will now be exempt from payment of integratedtax and compensation cess under the GST.
Similar exemptions have also given for import of secondhand capital goods.
"Second hand capital goods, without any age limit, mayalso be imported without payment of...Integrated Tax and GSTCompensation Cess...," it added.
It also said that export oriented unit/ ElectronicsHardware Technology Park / Software Technology Park / Bio-Technology Park units may import without payment of integratedTax and GST Compensation Cess. PTI RR CSMKJ.
This is unedited, unformatted feed from the Press Trust of India wire.