The Directorate General of Foreign Trade (DGFT) has updated the Export Policy of all products in line with the Finance Act, 2024.
The notification relates to Schedule-II (Export Policy) of ITC(HS) 2022, in sync with Finance Act 2024 dated 16.08.2024.
The step of DGFT will most likely enhance the ease of doing business in the country.
The updated schedule contains the current export policy of all ITC (HS) codes, along with specific policy conditions (if any) to be fulfilled, it added.
The updated ‘Schedule-II (Export Policy) of ITC (HS) 2022’ contains the current export
policy of all ITCHS) Codes along with specific policy conditions (if any) to be fulfilled, shall be available on the DGFT website.
The ‘General Notes to Export Policy’ has also been updated in sync with the Schedule-ll (Export Policy) and shall be available on the DGFT.
The notification shall come into effect from 13/01/2025.
What is ITC (HS)?
Indian Trade Clarification based on Harmonized System (ITC-HS) ITC-HS Codes was adopted in India for import-export operations. Indian custom uses an eight digit ITC-HS Codes to suit the national trade requirements.
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Notification Details
Notification No. 50/2024-25
Date: 13/01/2025
